PulteGroup, Inc. (NYSE:PHM) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 624,015 shares of the construction company's stock after selling 33,598 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.30% of PulteGroup worth $67,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of PulteGroup in the fourth quarter valued at about $427,562,000. Amundi grew its stake in shares of PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock valued at $180,775,000 after buying an additional 716,716 shares during the period. Franklin Resources Inc. increased its holdings in shares of PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after buying an additional 683,592 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of PulteGroup by 3,118.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company's stock valued at $54,070,000 after buying an additional 365,012 shares during the period. Finally, Tidal Investments LLC lifted its holdings in PulteGroup by 837.9% in the third quarter. Tidal Investments LLC now owns 173,727 shares of the construction company's stock valued at $24,935,000 after acquiring an additional 155,204 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities research analysts have commented on PHM shares. JPMorgan Chase & Co. reduced their target price on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, December 13th. Bank of America reduced their price objective on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. UBS Group increased their target price on shares of PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Oppenheimer reduced their price target on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Finally, Citigroup decreased their price objective on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and an average price target of $139.64.

PulteGroup Stock Up 0.8 %

Shares of NYSE PHM traded up $0.70 during mid-day trading on Friday, hitting $94.38. The company had a trading volume of 2,580,035 shares, compared to its average volume of 1,988,531. The company has a market capitalization of $19.11 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The business's 50-day simple moving average is $103.40 and its 200 day simple moving average is $117.89. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. 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 posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating 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, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.93%. PulteGroup's dividend payout ratio is currently 5.98%.

PulteGroup announced that its board has authorized a share 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 buy up to 6.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 over the last 90 days. 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.