Trustmark National Bank Trust Department Trims Position in PulteGroup, Inc. (NYSE:PHM)

Trustmark National Bank Trust Department lowered its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,058 shares of the construction company's stock after selling 11,531 shares during the quarter. Trustmark National Bank Trust Department's holdings in PulteGroup were worth $3,056,000 at the end of the most recent quarter.

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

PulteGroup Stock Performance

Shares of NYSE:PHM traded up $2.01 on Friday, reaching $94.87. The company's stock had a trading volume of 2,870,580 shares, compared to its average volume of 1,996,144. The stock's 50-day moving average is $102.28 and its two-hundred day moving average is $116.74. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The stock has a market capitalization of $19.21 billion, a P/E ratio of 6.45, a PEG ratio of 0.29 and a beta of 1.44. 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 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%. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

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

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays lowered their target price on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Bank of America cut their target price 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. Wells Fargo & Company lowered their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Monday. Wedbush restated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. Finally, The Goldman Sachs Group reduced their price objective on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $138.21.

Insider Buying and Selling

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the company's stock in a transaction dated Monday, February 10th. The shares were 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 $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now owns 11,372 shares of the company's stock, valued at $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 sold 21,191 shares of company stock valued at $2,256,367 over the last ninety days. Corporate insiders own 0.76% of the company's stock.

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.