Systematic Financial Management LP Cuts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Systematic Financial Management LP decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.3% in the 4th quarter, according to the company in 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 quarter. Systematic Financial Management LP owned 0.06% of PulteGroup worth $13,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PHM. Norges Bank acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $427,562,000. Amundi lifted its position in shares of PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock worth $180,775,000 after purchasing an additional 716,716 shares during the period. Franklin Resources Inc. boosted its position in PulteGroup by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock valued at $1,300,034,000 after acquiring an additional 683,592 shares during the last quarter. Man Group plc grew its stake in PulteGroup by 136.8% during the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock worth $107,698,000 after purchasing an additional 571,251 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in shares of 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 buying an additional 425,492 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

Wall Street Analyst Weigh In

PHM has been the topic of a number of research reports. Wells Fargo & Company dropped their target price 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. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Royal Bank of Canada decreased their target price on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Finally, Barclays reduced their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Stock Performance

Shares of PulteGroup stock traded down $0.69 during trading hours on Friday, hitting $97.89. 455,557 shares of the company's stock traded hands, compared to its average volume of 2,000,211. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 0.29 and a beta of 1.37. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month 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. The company has a fifty day simple moving average of $100.66 and a 200-day simple moving average of $110.45.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly 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 company had revenue of $3.89 billion during 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 last year, the business posted $3.10 EPS. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company 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 $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio is currently 6.21%.

PulteGroup declared that its board has authorized a stock repurchase program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership 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.