PulteGroup, Inc. (NYSE:PHM) Holdings Reduced by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 447,213 shares of the construction company's stock after selling 19,710 shares during the period. Royal Bank of Canada owned 0.22% of PulteGroup worth $48,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PHM. Aaron Wealth Advisors LLC boosted its position in PulteGroup by 7.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,151 shares of the construction company's stock worth $234,000 after purchasing an additional 145 shares during the period. Aspire Private Capital LLC boosted its position in PulteGroup by 7.8% during the 4th quarter. Aspire Private Capital LLC now owns 10,142 shares of the construction company's stock worth $1,104,000 after purchasing an additional 734 shares during the period. Eads & Heald Wealth Management boosted its position in PulteGroup by 33.9% during the 4th quarter. Eads & Heald Wealth Management now owns 3,552 shares of the construction company's stock worth $387,000 after purchasing an additional 900 shares during the period. Cetera Trust Company N.A boosted its position in PulteGroup by 8.4% in the 4th quarter. Cetera Trust Company N.A now owns 9,147 shares of the construction company's stock valued at $996,000 after buying an additional 705 shares during the last quarter. Finally, Sharp Financial Services LLC boosted its position in PulteGroup by 86.0% in the 4th quarter. Sharp Financial Services LLC now owns 2,660 shares of the construction company's stock valued at $290,000 after buying an additional 1,230 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of analyst reports. Wells Fargo & Company decreased 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 issued a $135.00 price objective on shares of PulteGroup in a research report on Tuesday, April 22nd. Oppenheimer decreased their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Evercore ISI upped 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. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Stock Down 0.4%

Shares of PulteGroup stock traded down $0.35 during trading on Friday, reaching $98.23. The company had a trading volume of 1,389,728 shares, compared to its average volume of 2,011,149. The company has a market cap of $19.69 billion, a price-to-earnings ratio of 6.68, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. The firm's fifty day moving average is $100.55 and its 200-day moving average is $110.21. 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, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share 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 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 earnings per share. On average, analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

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

PulteGroup announced that its board has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.