UniSuper Management Pty Ltd Reduces Stock Position in PulteGroup, Inc. (NYSE:PHM)

UniSuper Management Pty Ltd trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,175 shares of the construction company’s stock after selling 3,797 shares during the period. UniSuper Management Pty Ltd’s holdings in PulteGroup were worth $2,415,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. raised its holdings in PulteGroup by 16.7% during the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock worth $68,000 after purchasing an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after buying an additional 95 shares during the last quarter. Meridian Wealth Management LLC boosted its position in shares of PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock worth $1,440,000 after buying an additional 95 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock valued at $479,000 after acquiring an additional 103 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in PulteGroup by 3.7% in the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock valued at $328,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM opened at $101.76 on Friday. PulteGroup, Inc. has a fifty-two week low of $100.35 and a fifty-two week high of $149.47. The firm’s 50 day moving average is $107.58 and its two-hundred day moving average is $121.31. The company has a market cap of $20.60 billion, a P/E ratio of 6.92, a P/E/G ratio of 0.29 and a beta of 1.71. 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 (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping 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 expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its Board of Directors has authorized a stock buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

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 paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

Insider Transactions at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer reduced their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. UBS Group increased their price objective on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Citigroup reduced their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.