PulteGroup, Inc. (NYSE:PHM) Stock Holdings Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 19.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,381 shares of the construction company's stock after selling 5,715 shares during the period. State of Alaska Department of Revenue's holdings in PulteGroup were worth $2,546,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Grove Bank & Trust boosted its stake in shares of PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock worth $66,000 after purchasing an additional 72 shares during the last quarter. Cromwell Holdings LLC boosted its stake in shares of PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company's stock worth $81,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners boosted its stake in shares of PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company's stock worth $718,000 after purchasing an additional 83 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of PulteGroup by 3.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company's stock worth $438,000 after purchasing an additional 88 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in shares of PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock worth $68,000 after purchasing an additional 89 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Up 0.7 %

Shares of NYSE PHM traded up $0.75 during trading on Friday, reaching $107.45. 1,519,276 shares of the stock were exchanged, compared to its average volume of 2,269,826. The business's 50-day moving average price is $113.02 and its 200 day moving average price is $126.35. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping 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%. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.43 EPS for the current fiscal year.

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

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.82%. PulteGroup's dividend payout ratio is presently 5.98%.

Insider Activity at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the business's stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction 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 have sold 21,191 shares of company stock valued at $2,256,367 over the last ninety days. Corporate insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BTIG Research raised their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Citigroup cut 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. Wedbush reiterated an "outperform" rating and set a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, Barclays cut their price objective on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and an average target price of $140.86.

PulteGroup 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.