PulteGroup, Inc. (NYSE:PHM) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 80.6% 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 3,369 shares of the construction company's stock after selling 13,981 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in PulteGroup were worth $367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Richardson Financial Services Inc. boosted its holdings in shares of PulteGroup by 16.7% in the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock valued at $68,000 after buying an additional 89 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in shares of PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock valued at $280,000 after buying an additional 95 shares during the period. Meridian Wealth Management LLC boosted its holdings 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 valued at $1,440,000 after buying an additional 95 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of 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 buying an additional 103 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of PulteGroup by 43.0% in the 4th 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. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PHM. UBS Group decreased their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Evercore ISI lifted their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Oppenheimer cut their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Price Performance

Shares of PHM stock traded up $0.72 during midday trading on Thursday, reaching $102.78. 1,795,452 shares of the company were exchanged, compared to its average volume of 2,003,924. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a market cap of $20.60 billion, a P/E ratio of 6.99, a PEG ratio of 0.29 and a beta of 1.37. The company's 50 day moving average price is $100.98 and its two-hundred day moving average price is $111.64. 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 released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the firm earned $3.10 EPS. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. PulteGroup's dividend payout ratio is currently 6.21%.

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

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.