Franklin Resources Inc. Purchases 683,592 Shares of PulteGroup, Inc. (NYSE:PHM)

Franklin Resources Inc. grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,937,866 shares of the construction company’s stock after purchasing an additional 683,592 shares during the quarter. Franklin Resources Inc. owned approximately 5.82% of PulteGroup worth $1,300,034,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in PulteGroup in the fourth quarter worth $427,562,000. Amundi boosted its holdings in PulteGroup by 77.9% during the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after acquiring an additional 716,716 shares during the period. Nordea Investment Management AB grew its position in PulteGroup by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock worth $155,856,000 after acquiring an additional 129,975 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in PulteGroup by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,351,491 shares of the construction company’s stock worth $147,177,000 after purchasing an additional 19,829 shares during the period. Finally, Victory Capital Management Inc. lifted its position in PulteGroup by 8.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,112,782 shares of the construction company’s stock valued at $121,182,000 after purchasing an additional 87,506 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Trading Down 3.1 %

Shares of PulteGroup stock opened at $101.76 on Monday. 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 has a market capitalization of $20.60 billion, a PE ratio of 6.92, a P/E/G ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 1-year low of $100.35 and a 1-year high of $149.47. The company’s fifty day simple moving average is $107.58 and its 200-day simple moving average is $121.24.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its Board of Directors has approved a stock repurchase plan on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is currently 5.98%.

Insider Activity at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the firm’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 completion of the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,191 shares of company stock valued at $2,256,367. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PHM shares. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. UBS Group raised their target price on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Wells Fargo & Company dropped their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.