Sterling Capital Management LLC Sells 26,077 Shares of PulteGroup, Inc. (NYSE:PHM)

Sterling Capital Management LLC cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 58.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,617 shares of the construction company's stock after selling 26,077 shares during the quarter. Sterling Capital Management LLC's holdings in PulteGroup were worth $2,027,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $29,000. Fortitude Family Office LLC boosted its stake in PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after buying an additional 137 shares in the last quarter. R Squared Ltd acquired a new stake in PulteGroup during the fourth quarter worth $39,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock valued at $48,000 after buying an additional 131 shares in the last quarter. Finally, Oakworth Capital Inc. raised its position in PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock worth $52,000 after purchasing an additional 411 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Up 2.2 %

PHM stock traded up $2.01 during trading hours on Friday, reaching $94.87. 2,870,580 shares of the stock were exchanged, compared to its average volume of 1,996,507. The firm's 50-day moving average is $102.04 and its 200-day moving average is $116.40. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a market cap of $19.21 billion, a price-to-earnings ratio of 6.45, a PEG ratio of 0.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

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 for the quarter, topping analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its board has initiated a share buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.93%. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock worth $2,256,367 in the last three months. Insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PHM shares. Barclays cut their target price on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. The Goldman Sachs Group decreased their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Finally, Bank of America cut their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.21.

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.