New York State Common Retirement Fund Trims Stock Position in PulteGroup, Inc. (NYSE:PHM)

New York State Common Retirement Fund cut its position in PulteGroup, Inc. (NYSE:PHM) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,223 shares of the construction company’s stock after selling 6,000 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of PulteGroup worth $13,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PHM. Private Advisor Group LLC raised its position in shares of PulteGroup by 9.2% in the third quarter. Private Advisor Group LLC now owns 10,943 shares of the construction company’s stock worth $1,571,000 after buying an additional 924 shares in the last quarter. International Assets Investment Management LLC bought a new position in PulteGroup in the 3rd quarter worth about $7,598,000. Assenagon Asset Management S.A. raised its holdings in shares of PulteGroup by 97.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 46,603 shares of the construction company’s stock valued at $6,689,000 after acquiring an additional 22,982 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of PulteGroup by 19.7% during the third quarter. Forsta AP Fonden now owns 44,300 shares of the construction company’s stock worth $6,358,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of PulteGroup by 32.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 67,191 shares of the construction company’s stock worth $9,644,000 after purchasing an additional 16,445 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Trading Down 2.6 %

NYSE:PHM opened at $103.04 on Monday. The firm has a market capitalization of $20.86 billion, a P/E ratio of 7.00, a P/E/G 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. The company has a fifty day moving average of $110.87 and a 200 day moving average of $125.40. PulteGroup, Inc. has a 52 week low of $101.13 and a 52 week high of $149.47.

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

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

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.85%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

Insider Activity at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the company’s 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 in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The shares were 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 sold a total of 21,191 shares of company stock worth $2,256,367 over the last quarter. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PHM shares. Seaport Res Ptn lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Barclays dropped their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Oppenheimer reduced their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” 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. Finally, Wells Fargo & Company reduced their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Company 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.