PulteGroup, Inc. (NYSE:PHM) Stake Decreased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 107,907 shares of the construction company's stock after selling 3,376 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of PulteGroup worth $11,751,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC increased its position in shares of PulteGroup by 115.1% in the third 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 PulteGroup during the 3rd quarter worth $29,000. Hager Investment Management Services LLC acquired a new stake in PulteGroup in the 4th quarter valued at $29,000. R Squared Ltd purchased a new position in PulteGroup in the fourth quarter valued at about $39,000. Finally, JNBA Financial Advisors acquired a new position in shares of PulteGroup during the third quarter worth about $43,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PHM. Bank of America lowered their target price on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, January 27th. StockNews.com downgraded shares of PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Barclays dropped 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 note on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. Finally, The Goldman Sachs Group dropped their price target on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.86.

PulteGroup Stock Down 0.7 %

NYSE PHM traded down $0.79 on Wednesday, hitting $104.81. 2,294,614 shares of the stock traded hands, compared to its average volume of 2,250,991. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $111.82 and a 200 day moving average of $125.77. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47. The company has a market capitalization of $21.22 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its board has approved a stock repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the business'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 completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the company's stock in a transaction on Monday, February 10th. The stock was 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 of the company's stock, 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 valued at $2,256,367 in the last quarter. Insiders own 0.75% 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.