Kentucky Retirement Systems Insurance Trust Fund Raises Position in PulteGroup, Inc. (NYSE:PHM)

Kentucky Retirement Systems Insurance Trust Fund increased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 98.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,209 shares of the construction company's stock after purchasing an additional 6,065 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in PulteGroup were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PHM. Fortitude Family Office LLC raised its stake in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after buying an additional 99 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in PulteGroup during the third quarter valued at $29,000. Hager Investment Management Services LLC purchased a new position in shares of PulteGroup in the fourth quarter worth $29,000. JNBA Financial Advisors purchased a new position in shares of PulteGroup in the third quarter worth $43,000. Finally, R Squared Ltd purchased a new position in shares of PulteGroup in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded down $2.80 during mid-day trading on Friday, hitting $103.04. 1,818,711 shares of the company traded hands, compared to its average volume of 2,221,906. The stock's fifty day moving average price is $111.18 and its 200-day moving average price is $125.49. PulteGroup, Inc. has a one year low of $101.13 and a one year high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.28 and a beta of 1.68.

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

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is 5.98%.

PulteGroup announced that its board has approved 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 repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PHM shares. Seaport Res Ptn cut PulteGroup from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. decreased their price target on PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. Wells Fargo & Company decreased their price target on PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. StockNews.com cut PulteGroup from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group decreased their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $140.86.

Insider Transactions at PulteGroup

In other news, 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 value of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares of the company's stock, valued at $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now directly owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. 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 over the last 90 days. Company insiders own 0.83% of the company's stock.

PulteGroup Company 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.