State of Alaska Department of Revenue Reduces Holdings in PulteGroup, Inc. (NYSE:PHM)

State of Alaska Department of Revenue trimmed its stake in PulteGroup, Inc. (NYSE:PHM) by 19.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,381 shares of the construction company’s stock after selling 5,715 shares during the period. State of Alaska Department of Revenue’s holdings in PulteGroup were worth $2,546,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Dynamic Advisor Solutions LLC purchased a new position in PulteGroup during the 3rd quarter worth $293,000. Brookstone Capital Management purchased a new position in PulteGroup during the 3rd quarter worth $267,000. Inspire Investing LLC grew its position in PulteGroup by 230.1% during the 3rd quarter. Inspire Investing LLC now owns 7,908 shares of the construction company’s stock worth $1,135,000 after purchasing an additional 5,512 shares during the last quarter. Exchange Traded Concepts LLC grew its position in PulteGroup by 145.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,098 shares of the construction company’s stock worth $732,000 after purchasing an additional 3,025 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of PulteGroup in the 3rd quarter worth $226,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PHM shares. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Seaport Res Ptn cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. The Goldman Sachs Group reduced their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Citigroup reduced their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

NYSE:PHM opened at $106.55 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $115.02 and a two-hundred day moving average price of $126.92. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47. The company has a market capitalization of $21.85 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating 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%. As a group, research analysts expect that PulteGroup, Inc. will post 12.43 earnings per share for the current fiscal year.

PulteGroup announced that its board has initiated a share repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in 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 typically an indication that the company’s board believes its shares are undervalued.

PulteGroup Dividend Announcement

The company 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 dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.83%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

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.