Zurcher Kantonalbank Zurich Cantonalbank Sells 178,119 Shares of PulteGroup, Inc. (NYSE:PHM)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 343,839 shares of the construction company’s stock after selling 178,119 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.17% of PulteGroup worth $37,444,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PHM. FMR LLC boosted its stake in PulteGroup by 102.3% during the third 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 during the period. Amundi lifted its stake in 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 purchasing an additional 716,716 shares during the last quarter. Franklin Resources Inc. lifted its stake in 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. Westfield Capital Management Co. LP bought a new stake in PulteGroup during the third quarter worth about $66,485,000. Finally, KBC Group NV lifted its stake in PulteGroup by 1,020.0% during the third quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after purchasing an additional 397,003 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction that occurred 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 owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.83% of the company’s stock.

PulteGroup Stock Down 0.4 %

Shares of NYSE:PHM opened at $107.48 on Tuesday. PulteGroup, Inc. has a 1 year low of $100.54 and a 1 year high of $149.47. The company has a market cap of $21.76 billion, a PE ratio of 7.31, a P/E/G ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50-day moving average is $109.46 and its 200 day moving average is $123.91.

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%. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 0.82%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PHM shares. UBS Group lifted 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 dropped 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. Barclays dropped 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. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

About PulteGroup

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.