Teacher Retirement System of Texas Raises Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Teacher Retirement System of Texas increased its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 32.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,811 shares of the construction company's stock after purchasing an additional 77,189 shares during the quarter. Teacher Retirement System of Texas owned 0.16% of PulteGroup worth $34,501,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hager Investment Management Services LLC purchased a new position in shares of PulteGroup in the 4th quarter worth $29,000. Fortitude Family Office LLC lifted its holdings in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock valued at $35,000 after acquiring an additional 137 shares during the period. R Squared Ltd purchased a new position in PulteGroup in the fourth quarter worth about $39,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of PulteGroup by 41.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock valued at $48,000 after purchasing an additional 131 shares during the period. Finally, Oakworth Capital Inc. increased its position in shares of PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock valued at $52,000 after purchasing an additional 411 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PHM. JPMorgan Chase & Co. dropped their price objective on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, December 13th. StockNews.com cut shares of PulteGroup from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. UBS Group upped their price objective on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Bank of America lowered their target price on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Finally, Barclays reduced their price target on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $140.86.

Remove Ads

Insider Buying and Selling

In related news, Director Brian P. Anderson sold 2,500 shares of the firm'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 completion of the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders 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 stock traded down $0.57 during mid-day trading on Tuesday, hitting $105.28. The company had a trading volume of 1,979,885 shares, compared to its average volume of 1,878,103. The company has a market capitalization of $21.31 billion, a P/E ratio of 7.16, a P/E/G ratio of 0.29 and a beta of 1.71. The stock's 50 day moving average price is $108.48 and its 200-day moving average price is $122.01. PulteGroup, Inc. has a 52-week low of $100.35 and a 52-week 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 issued 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%. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

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 given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.84%. PulteGroup's dividend payout ratio is currently 5.98%.

PulteGroup declared that its board has approved a share 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 purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

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.