Sumitomo Mitsui Trust Group Inc. Sells 4,806 Shares of PulteGroup, Inc. (NYSE:PHM)

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 531,426 shares of the construction company's stock after selling 4,806 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of PulteGroup worth $57,872,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC grew its stake in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup in the third quarter valued at about $29,000. Hager Investment Management Services LLC bought a new position in shares of PulteGroup during the 4th quarter worth approximately $29,000. JNBA Financial Advisors bought a new position in shares of PulteGroup during the 3rd quarter worth approximately $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company's stock worth $45,000 after buying an additional 286 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of PHM traded up $0.67 during midday trading on Thursday, hitting $106.67. 1,594,611 shares of the company traded hands, compared to its average volume of 2,295,707. The stock has a 50-day moving average of $113.44 and a 200-day moving average of $126.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.73. The firm has a market cap of $21.88 billion, a P/E ratio of 7.25, a PEG ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47.

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 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%. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.43 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. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its board has initiated a stock repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PHM. Wells Fargo & Company dropped their price target on PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Evercore ISI lowered their target price on PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Barclays lowered their price objective on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. BTIG Research lifted their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research report on Friday, January 31st. One equities research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $140.86.

Insider Buying and Selling

In other news, VP Brien P. O'meara sold 3,500 shares of the 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 transaction, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their position. The sale was disclosed in a document filed 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 shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.83% of the company's stock.

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.