Gulf International Bank UK Ltd Sells 209 Shares of PulteGroup, Inc. (NYSE:PHM)

Gulf International Bank UK Ltd lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,423 shares of the construction company’s stock after selling 209 shares during the period. Gulf International Bank UK Ltd’s holdings in PulteGroup were worth $1,897,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Franklin Resources Inc. boosted its position in shares of PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after acquiring an additional 585,735 shares during the last quarter. FMR LLC boosted its position in shares of PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after acquiring an additional 4,571,757 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PulteGroup by 7.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after acquiring an additional 135,391 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of PulteGroup by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after acquiring an additional 129,975 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of PulteGroup by 6.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock valued at $147,158,000 after acquiring an additional 60,854 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $103.23 on Friday. 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 business’s 50 day simple moving average is $109.97 and its two-hundred day simple moving average is $124.72. The stock has a market capitalization of $20.90 billion, a P/E ratio of 7.02, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a one year low of $100.54 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its board has authorized a stock buyback 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 typically a sign 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 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

In other news, EVP Todd N. Sheldon sold 15,191 shares of the business’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 directly owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock valued at $2,256,367. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PHM. UBS Group lifted their price target on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Seaport Res Ptn cut PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Oppenheimer decreased their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company decreased their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.