PulteGroup, Inc. (NYSE:PHM) Shares Sold by Ethic Inc.

Ethic Inc. lowered its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,881 shares of the construction company's stock after selling 6,742 shares during the quarter. Ethic Inc.'s holdings in PulteGroup were worth $4,452,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PHM. Norges Bank bought a new position in PulteGroup during the fourth quarter worth about $427,562,000. Amundi boosted its stake in shares of PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock valued at $180,775,000 after purchasing an additional 716,716 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock valued at $1,300,034,000 after purchasing an additional 683,592 shares in the last quarter. Bridgewater Associates LP grew its holdings in PulteGroup by 118.8% during the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock worth $85,332,000 after acquiring an additional 425,492 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in PulteGroup by 45.6% during the 4th quarter. First Trust Advisors LP now owns 1,065,190 shares of the construction company's stock worth $115,999,000 after acquiring an additional 333,361 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of PulteGroup stock traded down $4.24 on Wednesday, reaching $102.21. The stock had a trading volume of 2,237,420 shares, compared to its average volume of 2,004,758. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The company has a market cap of $20.49 billion, a P/E ratio of 6.95, 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's 50 day moving average is $101.10 and its two-hundred day moving average is $111.70.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations 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 earned $3.10 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

PulteGroup Dividend Announcement

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

Insiders Place Their Bets

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. The trade was a 23.53% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PHM. Evercore ISI boosted their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a research report on Tuesday, April 22nd. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Royal Bank of Canada dropped their target price on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group dropped their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.