Nuveen Asset Management LLC Trims Holdings in PulteGroup, Inc. (NYSE:PHM)

Nuveen Asset Management LLC trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,474,212 shares of the construction company's stock after selling 47,408 shares during the period. Nuveen Asset Management LLC owned approximately 0.72% of PulteGroup worth $160,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Czech National Bank raised its position in PulteGroup by 5.2% in the fourth quarter. Czech National Bank now owns 44,466 shares of the construction company's stock worth $4,842,000 after acquiring an additional 2,192 shares during the period. Capital Investment Advisors LLC increased its stake in shares of PulteGroup by 11.0% in the 4th quarter. Capital Investment Advisors LLC now owns 3,381 shares of the construction company's stock worth $368,000 after purchasing an additional 335 shares in the last quarter. Wedmont Private Capital raised its holdings in PulteGroup by 3.7% in the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company's stock worth $328,000 after purchasing an additional 110 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in PulteGroup by 41.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,433 shares of the construction company's stock valued at $374,000 after purchasing an additional 1,007 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in PulteGroup by 16.5% during the fourth quarter. Park Avenue Securities LLC now owns 37,734 shares of the construction company's stock valued at $4,109,000 after purchasing an additional 5,332 shares during the period. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of NYSE:PHM traded down $0.09 on Wednesday, reaching $101.22. The company's stock had a trading volume of 493,949 shares, compared to its average volume of 1,992,601. The company has a 50-day simple moving average of $100.85 and a 200 day simple moving average of $110.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $20.29 billion, a P/E ratio of 6.87, a PEG ratio of 0.29 and a beta of 1.37. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.86 billion. During the same quarter in the previous year, the business earned $3.10 EPS. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup announced that its board has authorized a share buyback program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on PHM shares. Oppenheimer decreased their price objective on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Wedbush restated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research note on Tuesday, April 22nd. Barclays lowered their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. 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 price target of $134.69.

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.