Handelsbanken Fonder AB Sells 82,268 Shares of PulteGroup, Inc. (NYSE:PHM)

Handelsbanken Fonder AB lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 44.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 103,077 shares of the construction company’s stock after selling 82,268 shares during the period. Handelsbanken Fonder AB’s holdings in PulteGroup were worth $10,640,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC bought a new stake in PulteGroup in the 3rd quarter worth $33,000. Baystate Wealth Management LLC grew its holdings in PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after acquiring an additional 319 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in PulteGroup in the 3rd quarter worth $36,000. Rakuten Securities Inc. bought a new stake in PulteGroup in the 4th quarter worth $37,000. Finally, Lindbrook Capital LLC grew its holdings in PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM stock opened at $112.26 on Thursday. The company has a 50 day moving average price of $110.90 and a 200-day moving average price of $99.05. PulteGroup, Inc. has a 52 week low of $64.41 and a 52 week high of $121.07. The firm has a market capitalization of $23.69 billion, a PE ratio of 8.99, a P/E/G ratio of 0.55 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the business posted $3.63 earnings per share. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, equities research analysts expect that PulteGroup, Inc. will post 11.79 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.71%. PulteGroup’s dividend payout ratio is presently 6.41%.

PulteGroup announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup raised their target price on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. UBS Group cut shares of PulteGroup from a “buy” rating to a “neutral” rating and raised their target price for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. The Goldman Sachs Group raised their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Jefferies Financial Group raised their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays raised their target price on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.73.

Insider Transactions at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

PulteGroup 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.