California State Teachers Retirement System Sells 42,609 Shares of PulteGroup, Inc. (NYSE:PHM)

California State Teachers Retirement System reduced its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,692 shares of the construction company's stock after selling 42,609 shares during the quarter. California State Teachers Retirement System owned about 0.15% of PulteGroup worth $32,201,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. RFG Advisory LLC increased its position in PulteGroup by 45.9% during the 4th quarter. RFG Advisory LLC now owns 2,153 shares of the construction company's stock worth $234,000 after purchasing an additional 677 shares in the last quarter. Exchange Traded Concepts LLC increased its position in PulteGroup by 38.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,046 shares of the construction company's stock worth $767,000 after purchasing an additional 1,948 shares in the last quarter. Blue Trust Inc. increased its position in PulteGroup by 44.5% during the 4th quarter. Blue Trust Inc. now owns 8,589 shares of the construction company's stock worth $935,000 after purchasing an additional 2,644 shares in the last quarter. Pacer Advisors Inc. increased its position in PulteGroup by 31.5% during the 4th quarter. Pacer Advisors Inc. now owns 43,431 shares of the construction company's stock worth $4,730,000 after purchasing an additional 10,416 shares in the last quarter. Finally, R Squared Ltd acquired a new position in PulteGroup during the 4th quarter worth approximately $39,000. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Wedbush reissued an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Royal Bank of Canada reduced 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, April 23rd. UBS Group reduced their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $134.69.

PulteGroup Trading Down 0.5%

NYSE:PHM traded down $0.45 during trading hours on Friday, hitting $98.09. The company had a trading volume of 3,156,068 shares, compared to its average volume of 2,020,206. The company has a market capitalization of $19.66 billion, a PE ratio of 6.67, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. The stock has a 50-day moving average price of $99.92 and a 200 day moving average price of $109.08. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick 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 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. The business 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 in the previous year, the business posted $3.10 earnings per share. On average, equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a stock repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is currently 6.21%.

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.