State of Tennessee Department of Treasury Sells 14,893 Shares of PulteGroup, Inc. (NYSE:PHM)

State of Tennessee Department of Treasury decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,521 shares of the construction company's stock after selling 14,893 shares during the quarter. State of Tennessee Department of Treasury owned about 0.05% of PulteGroup worth $11,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Logan Capital Management Inc. boosted its position in shares of PulteGroup by 67.7% in the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company's stock valued at $2,124,000 after acquiring an additional 5,976 shares during the period. Nilsine Partners LLC boosted its holdings in PulteGroup by 929.2% in the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company's stock valued at $2,240,000 after purchasing an additional 18,575 shares during the period. Harbor Capital Advisors Inc. grew its position in PulteGroup by 3.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company's stock worth $496,000 after purchasing an additional 143 shares during the last quarter. Argyle Capital Management LLC increased its holdings in shares of PulteGroup by 1.5% during the 4th quarter. Argyle Capital Management LLC now owns 42,241 shares of the construction company's stock worth $4,600,000 after purchasing an additional 641 shares during the period. Finally, Eastern Bank raised its position in shares of PulteGroup by 4.6% during the fourth quarter. Eastern Bank now owns 142,740 shares of the construction company's stock valued at $15,544,000 after buying an additional 6,243 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group reduced their price objective on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday. Bank of America lowered their price target 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. Citigroup reduced their price objective on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Wedbush reissued an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $134.69.

Insider Buying and Selling

In other news, VP Brien P. O'meara sold 3,500 shares of the business's stock in a transaction 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 sale, the vice president now owns 11,372 shares of the company's stock, valued at $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now directly owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by corporate insiders.

PulteGroup Trading Down 0.8 %

PHM traded down $0.87 during mid-day trading on Friday, reaching $101.98. The stock had a trading volume of 1,861,826 shares, compared to its average volume of 1,997,955. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The firm's fifty day simple moving average is $101.37 and its two-hundred day simple moving average is $114.81. 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 stock has a market capitalization of $20.65 billion, a P/E ratio of 6.93, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period last year, the company posted $3.10 EPS. On average, equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. PulteGroup's dividend payout ratio is presently 6.21%.

PulteGroup announced that its Board of Directors has initiated a share repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

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.