Sei Investments Co. Decreases Holdings in PulteGroup, Inc. (NYSE:PHM)

Sei Investments Co. lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 23.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 228,958 shares of the construction company's stock after selling 71,774 shares during the quarter. Sei Investments Co. owned approximately 0.11% of PulteGroup worth $24,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. increased its stake in shares of PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock worth $68,000 after purchasing an additional 89 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position 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 purchasing an additional 95 shares during the last quarter. Meridian Wealth Management LLC grew its position in PulteGroup by 0.7% in the fourth quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock worth $1,440,000 after acquiring an additional 95 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in shares of 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 grew its position in PulteGroup by 3.7% during the fourth quarter. Wedmont Private Capital now owns 3,050 shares of the construction company's stock valued at $328,000 after acquiring an additional 110 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

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PulteGroup Price Performance

NYSE:PHM traded down $3.28 during trading hours on Friday, hitting $101.76. 1,412,997 shares of the stock traded hands, compared to its average volume of 1,950,286. The stock has a 50 day moving average price of $107.58 and a 200 day moving average price of $121.24. PulteGroup, Inc. has a 1 year low of $100.35 and a 1 year high of $149.47. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth 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 released its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its Board of Directors has approved a share repurchase program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Bank of America reduced their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. UBS Group boosted their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Citigroup reduced their target price on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group dropped their target price on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Finally, Barclays cut their price target 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. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $140.86.

Insider Buying and Selling

In other news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the transaction, the executive vice president now owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction dated 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. The trade was a 4.23 % 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 worth $2,256,367 over the last three months. 0.76% of the stock is owned by insiders.

About PulteGroup

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.