PulteGroup, Inc. (NYSE:PHM) Shares Sold by Tredje AP fonden

Tredje AP fonden cut its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 91.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,955 shares of the construction company's stock after selling 376,414 shares during the period. Tredje AP fonden's holdings in PulteGroup were worth $4,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup during the fourth quarter worth $29,000. Fortitude Family Office LLC increased its position in shares of PulteGroup by 74.1% in the 4th 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 4th quarter worth $39,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in PulteGroup by 41.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock worth $48,000 after acquiring an additional 131 shares during the period. Finally, Oakworth Capital Inc. grew its stake in 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. Hedge funds and other institutional investors own 89.90% of the company's stock.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of PulteGroup 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 directly owns 56,617 shares of the company's stock, valued at $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brien P. O'meara sold 3,500 shares of the 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 completion of the transaction, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock worth $2,256,367 over the last 90 days. 0.83% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PHM. JPMorgan Chase & Co. reduced their price objective on PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. UBS Group raised their price target on shares of PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Bank of America cut their price objective 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, Wedbush restated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $140.86.

PulteGroup Price Performance

NYSE PHM traded down $0.14 during trading hours on Tuesday, reaching $103.53. The company's stock had a trading volume of 1,355,640 shares, compared to its average volume of 1,849,374. The firm has a market capitalization of $20.96 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 0.29 and a beta of 1.71. The company's 50-day moving average is $108.92 and its two-hundred day moving average is $122.89. 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, Inc. has a 1-year low of $100.54 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. On average, equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup declared that its board has authorized a share repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup's payout ratio is 5.98%.

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.