Rhumbline Advisers Sells 6,498 Shares of PulteGroup, Inc. (NYSE:PHM)

Rhumbline Advisers cut its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,565 shares of the construction company's stock after selling 6,498 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of PulteGroup worth $42,750,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. ABC Arbitrage SA bought a new position in shares of PulteGroup in the fourth quarter valued at about $2,524,000. Vicus Capital raised its position in shares of PulteGroup by 23.9% in the fourth quarter. Vicus Capital now owns 1,954 shares of the construction company's stock valued at $213,000 after purchasing an additional 377 shares during the period. V Square Quantitative Management LLC raised its position in shares of PulteGroup by 7.1% in the fourth quarter. V Square Quantitative Management LLC now owns 6,523 shares of the construction company's stock valued at $710,000 after purchasing an additional 430 shares during the period. Bogart Wealth LLC raised its position in shares of PulteGroup by 39.0% in the fourth quarter. Bogart Wealth LLC now owns 63,695 shares of the construction company's stock valued at $6,936,000 after purchasing an additional 17,882 shares during the period. Finally, Avestar Capital LLC raised its position in shares of PulteGroup by 8.3% in the fourth quarter. Avestar Capital LLC now owns 2,329 shares of the construction company's stock valued at $254,000 after purchasing an additional 178 shares during the period. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays decreased their price target 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. StockNews.com downgraded shares of PulteGroup from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Seaport Res Ptn downgraded shares of PulteGroup from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Bank of America decreased their price target on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. 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. According to data from MarketBeat, PulteGroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.86.

Insider Activity

In related news, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were 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 in the company, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were 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 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. In the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.83% of the company's stock.

PulteGroup Price Performance

Shares of PHM traded down $2.80 during mid-day trading on Friday, reaching $103.04. The company had a trading volume of 1,818,711 shares, compared to its average volume of 2,221,906. The company's 50 day simple moving average is $111.18 and its 200 day simple moving average is $125.49. PulteGroup, Inc. has a 1-year low of $101.13 and a 1-year high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 0.28 and a beta of 1.68.

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

PulteGroup Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. PulteGroup's payout ratio is currently 5.98%.

PulteGroup declared that its Board of Directors has initiated a share repurchase plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.