Illinois Municipal Retirement Fund Acquires 2,375 Shares of PulteGroup, Inc. (NYSE:PHM)

Illinois Municipal Retirement Fund lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 78,378 shares of the construction company’s stock after purchasing an additional 2,375 shares during the period. Illinois Municipal Retirement Fund’s holdings in PulteGroup were worth $8,535,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in shares of PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after purchasing an additional 585,735 shares during the last quarter. FMR LLC grew its holdings in shares of PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PulteGroup by 7.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock worth $267,546,000 after purchasing an additional 135,391 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of PulteGroup by 10.0% during the fourth quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock worth $155,856,000 after purchasing an additional 129,975 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of PulteGroup by 6.3% during the third quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock worth $147,158,000 after purchasing an additional 60,854 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 4.7 %

NYSE:PHM opened at $106.44 on Wednesday. PulteGroup, Inc. has a 1-year low of $100.54 and a 1-year high of $149.47. The business’s 50-day moving average price is $110.37 and its two-hundred day moving average price is $125.14. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $21.55 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping 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%. On average, equities analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

PulteGroup declared that its board has initiated a share buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PHM shares. Barclays cut their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Wells Fargo & Company cut their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Oppenheimer cut their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Finally, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the firm’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 owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock valued at $2,256,367 over the last 90 days. 0.75% of the stock is owned by company insiders.

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.