J. Safra Sarasin Holding AG Sells 38,320 Shares of PulteGroup, Inc. (NYSE:PHM)

J. Safra Sarasin Holding AG lowered its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,945 shares of the construction company's stock after selling 38,320 shares during the period. J. Safra Sarasin Holding AG owned 0.09% of PulteGroup worth $19,487,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PHM. Franklin Resources Inc. grew its position in shares of PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after buying an additional 683,592 shares during the period. Geode Capital Management LLC raised its position in shares of PulteGroup by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock valued at $556,465,000 after acquiring an additional 64,947 shares during the last quarter. Norges Bank acquired a new position in shares of PulteGroup in the 4th quarter valued at $427,562,000. Amundi lifted 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 during the period. Finally, Nordea Investment Management AB boosted its position in shares of PulteGroup by 10.0% in the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company's stock worth $155,856,000 after purchasing an additional 129,975 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

Insider Activity at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brien P. O'meara sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of analyst reports. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Bank of America dropped their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Oppenheimer decreased their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Citigroup dropped their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their price objective on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $134.69.

PulteGroup Stock Performance

Shares of PHM traded down $0.87 during mid-day trading on Friday, reaching $101.98. The company's stock had a trading volume of 1,861,826 shares, compared to its average volume of 1,996,953. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The business has a 50-day simple moving average of $101.37 and a two-hundred day simple moving average of $114.98. The stock has a market cap of $20.65 billion, a P/E ratio of 6.93, a PEG ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion for 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 period in the previous year, the company earned $3.10 earnings per share. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

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

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is 6.21%.

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.