Handelsbanken Fonder AB Sells 9,020 Shares of PulteGroup, Inc. (NYSE:PHM)

Handelsbanken Fonder AB trimmed its stake in PulteGroup, Inc. (NYSE:PHM) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,021 shares of the construction company’s stock after selling 9,020 shares during the period. Handelsbanken Fonder AB’s holdings in PulteGroup were worth $9,259,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Cromwell Holdings LLC lifted its stake in shares of PulteGroup by 17.2% in the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners lifted its stake in shares of PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after purchasing an additional 83 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of PulteGroup by 3.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after purchasing an additional 88 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in shares of PulteGroup by 16.7% in the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after purchasing an additional 89 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its stake in shares of PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after purchasing an additional 95 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction on 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian P. Anderson sold 2,500 shares of the business’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 transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. 0.83% of the stock is currently owned by company insiders.

PulteGroup Trading Down 2.6 %

Shares of NYSE PHM opened at $103.04 on Friday. PulteGroup, Inc. has a twelve month low of $101.13 and a twelve month high of $149.47. The business has a fifty day simple moving average of $110.87 and a two-hundred day simple moving average of $125.35. The firm has a market cap of $20.86 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors has authorized a stock buyback 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 purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. PulteGroup’s dividend payout ratio is presently 5.98%.

Analyst Ratings Changes

PHM has been the subject of several analyst reports. Citigroup lowered their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Bank of America decreased their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. UBS Group raised their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group decreased their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Barclays decreased their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.