Canada Pension Plan Investment Board Has $17.12 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Canada Pension Plan Investment Board trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,181 shares of the construction company's stock after selling 18,422 shares during the quarter. Canada Pension Plan Investment Board owned about 0.08% of PulteGroup worth $17,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Logan Capital Management Inc. boosted its stake in PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company's stock valued at $2,124,000 after purchasing an additional 5,976 shares during the period. Nilsine Partners LLC boosted its position in shares of PulteGroup by 929.2% in the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company's stock valued at $2,240,000 after acquiring an additional 18,575 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of PulteGroup by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company's stock valued at $496,000 after acquiring an additional 143 shares in the last quarter. Argyle Capital Management LLC raised its stake in PulteGroup by 1.5% in the 4th quarter. Argyle Capital Management LLC now owns 42,241 shares of the construction company's stock worth $4,600,000 after purchasing an additional 641 shares in the last quarter. Finally, Eastern Bank boosted its holdings in PulteGroup by 4.6% in the 4th quarter. Eastern Bank now owns 142,740 shares of the construction company's stock valued at $15,544,000 after purchasing an additional 6,243 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O'meara sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares of the company's stock, valued at $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction on 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 transaction, 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. Over the last three months, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PHM shares. Royal Bank of Canada lowered their target price on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a report on Wednesday. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Wells Fargo & Company cut their target price on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Oppenheimer decreased their price target on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Finally, Citigroup dropped their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Price Performance

Shares of PulteGroup stock traded down $0.87 during midday trading on Friday, hitting $101.98. 1,861,826 shares of the company traded hands, compared to its average volume of 1,996,953. The firm's fifty day moving average price is $101.37 and its 200-day moving average price is $114.98. The stock has a market cap of $20.65 billion, a price-to-earnings ratio of 6.93, a PEG ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. The firm 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 last year, the business posted $3.10 earnings per share. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its Board of Directors has approved a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a $0.22 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. PulteGroup's payout ratio is presently 6.21%.

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.