Tredje AP fonden Lowers Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Tredje AP fonden lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 91.1% in the 4th quarter, HoldingsChannel reports. The firm owned 36,955 shares of the construction company’s stock after selling 376,414 shares during the quarter. Tredje AP fonden’s holdings in PulteGroup were worth $4,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its holdings in shares of PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after buying an additional 4,571,757 shares in the last quarter. Amundi raised its stake in shares of PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after acquiring an additional 716,716 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of PulteGroup by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after acquiring an additional 585,735 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of PulteGroup in the 3rd quarter valued at $66,485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PulteGroup by 357.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after purchasing an additional 407,764 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Down 2.5 %

NYSE:PHM opened at $100.90 on Friday. The company has a 50-day moving average price of $109.15 and a 200-day moving average price of $123.40. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 6.86, a P/E/G ratio of 0.29 and a beta of 1.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12 month low of $100.54 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its Board of Directors has approved a share repurchase program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The company 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 dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.87%. PulteGroup’s dividend payout ratio is presently 5.98%.

Insider Activity at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 over the last ninety days. 0.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on PHM shares. Wells Fargo & Company lowered their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. The Goldman Sachs Group lowered their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Barclays reduced their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped 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. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock 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.