Invesco Ltd. Has $311.17 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Invesco Ltd. lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 25.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,857,387 shares of the construction company’s stock after selling 996,508 shares during the quarter. Invesco Ltd. owned 1.39% of PulteGroup worth $311,169,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Hager Investment Management Services LLC bought a new stake in PulteGroup in the 4th quarter valued at $29,000. Fortitude Family Office LLC raised its position in PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after acquiring an additional 137 shares in the last quarter. R Squared Ltd bought a new stake in PulteGroup during the fourth quarter worth $39,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of PulteGroup by 41.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after purchasing an additional 131 shares during the period. Finally, Oakworth Capital Inc. raised its position in shares of PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after purchasing an additional 411 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insiders Place Their Bets

In related news, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the 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 transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last three months. 0.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. The Goldman Sachs Group reduced their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Finally, Oppenheimer cut their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $139.64.

PulteGroup Stock Performance

NYSE:PHM opened at $97.04 on Thursday. The company has a fifty day moving average of $104.03 and a 200-day moving average of $118.56. The firm has a market capitalization of $19.65 billion, a P/E ratio of 6.60, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) 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, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s dividend payout ratio is 5.98%.

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.