PulteGroup, Inc. (NYSE:PHM) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP trimmed its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 51.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,873 shares of the construction company's stock after selling 24,315 shares during the period. Brevan Howard Capital Management LP's holdings in PulteGroup were worth $2,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $29,000. Fortitude Family Office LLC lifted its position in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after purchasing an additional 137 shares during the period. TD Waterhouse Canada Inc. grew its position in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after buying an additional 105 shares during the period. R Squared Ltd bought a new position in PulteGroup during the fourth quarter worth about $39,000. Finally, Quarry LP bought a new position in PulteGroup during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Trading Up 2.4%

Shares of PHM traded up $2.51 on Monday, reaching $104.98. 542,115 shares of the company's stock were exchanged, compared to its average volume of 1,992,825. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The stock has a market capitalization of $21.04 billion, a P/E ratio of 7.14, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $101.13 and a two-hundred day moving average price of $111.92.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same quarter in the prior year, the business earned $3.10 EPS. Research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its board has approved a share repurchase plan on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 6.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's dividend payout ratio is 6.21%.

Insider Buying and Selling

In other news, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This trade represents a 23.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm's 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 sale, the executive vice president now owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This represents a 16.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PHM has been the subject of several research analyst reports. UBS Group dropped their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI upped their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Oppenheimer reduced their target price on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Barclays dropped their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group cut their target price on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $134.69.

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.