Vanguard Group Inc. Reduces Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Vanguard Group Inc. lowered its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,691,583 shares of the construction company's stock after selling 201,841 shares during the quarter. Vanguard Group Inc. owned about 11.70% of PulteGroup worth $2,580,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PHM. Richardson Financial Services Inc. lifted its holdings in PulteGroup by 16.7% during the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock valued at $68,000 after purchasing an additional 89 shares in the last quarter. Premier Path Wealth Partners LLC grew its stake in PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock valued at $280,000 after acquiring an additional 95 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock valued at $1,440,000 after acquiring an additional 95 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after purchasing an additional 103 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in shares of PulteGroup by 3.7% during the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company's stock valued at $328,000 after purchasing an additional 110 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

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PulteGroup Trading Down 3.1 %

PHM stock traded down $3.28 during trading on Friday, hitting $101.76. The company had a trading volume of 1,412,997 shares, compared to its average volume of 1,950,286. PulteGroup, Inc. has a 52-week low of $100.35 and a 52-week high of $149.47. The company has a 50 day simple moving average of $107.58 and a 200-day simple moving average of $121.24. The firm has a market capitalization of $20.60 billion, a P/E ratio of 6.92, a PEG ratio of 0.29 and a beta of 1.71. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors has initiated a share repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.86%. PulteGroup's payout ratio is currently 5.98%.

Insider Buying and Selling at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brien P. O'meara sold 3,500 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PHM shares. UBS Group raised their price target on PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a report on Friday, January 31st. Barclays reduced their target price on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Bank of America decreased their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. Finally, Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $140.86.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.