Tredje AP fonden Sells 376,414 Shares of PulteGroup, Inc. (NYSE:PHM)

Tredje AP fonden decreased its position in PulteGroup, Inc. (NYSE:PHM) by 91.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,955 shares of the construction company’s stock after selling 376,414 shares during the quarter. Tredje AP fonden’s holdings in PulteGroup were worth $4,024,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Hager Investment Management Services LLC purchased a new position in PulteGroup during the fourth quarter worth about $29,000. Fortitude Family Office LLC lifted its position in shares of PulteGroup by 74.1% during the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after buying an additional 137 shares in the last quarter. R Squared Ltd purchased a new position in shares of PulteGroup in the 4th quarter worth approximately $39,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings 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 acquiring an additional 131 shares in the last quarter. Finally, Oakworth Capital Inc. increased its position in shares of PulteGroup by 642.2% during the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after acquiring an additional 411 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 2.5 %

NYSE:PHM opened at $100.90 on Friday. PulteGroup, Inc. has a 1 year low of $100.54 and a 1 year high of $149.47. The stock’s fifty day moving average price is $109.15 and its two-hundred day moving average price is $123.40. 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 company has a market cap of $20.43 billion, a P/E ratio of 6.86, a P/E/G ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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, analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its Board of Directors has initiated a stock repurchase plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. PulteGroup’s dividend payout ratio (DPR) is currently 5.98%.

Insider Activity at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was 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 of the company’s stock, valued at $6,026,879.65. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,191 shares of company stock valued at $2,256,367. Corporate insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PHM shares. JPMorgan Chase & Co. cut their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. The Goldman Sachs Group cut their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, UBS Group increased their target price on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.86.

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.