Systematic Financial Management LP Sells 4,248 Shares of PulteGroup, Inc. (NYSE:PHM)

Systematic Financial Management LP trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,009 shares of the construction company's stock after selling 4,248 shares during the period. Systematic Financial Management LP owned approximately 0.06% of PulteGroup worth $13,722,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Hager Investment Management Services LLC acquired a new position in shares of PulteGroup in the 4th quarter valued at $29,000. TD Waterhouse Canada Inc. lifted its stake 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 purchasing an additional 105 shares during the period. R Squared Ltd acquired a new position in shares of PulteGroup in the 4th quarter valued at $39,000. Quarry LP acquired a new position in shares of PulteGroup in the 4th quarter valued at $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock valued at $48,000 after purchasing an additional 131 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PHM shares. Royal Bank of Canada cut 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. Evercore ISI increased their target price on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Bank of America cut their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and an average price target of $134.69.

PulteGroup Stock Down 1.8%

PHM stock traded down $1.90 during trading hours on Tuesday, reaching $101.17. 1,283,288 shares of the stock were exchanged, compared to its average volume of 1,998,474. The firm's 50-day moving average is $100.85 and its 200-day moving average is $110.74. The company has a market cap of $20.28 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.29 and a beta of 1.37. 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, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released 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 business had revenue of $3.89 billion during the quarter, compared to the consensus estimate 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 firm earned $3.10 earnings per share. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is currently 6.21%.

PulteGroup declared that its board has authorized a share repurchase plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are 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.