Allspring Global Investments Holdings LLC Sells 32,885 Shares of PulteGroup, Inc. (NYSE:PHM)

Allspring Global Investments Holdings LLC reduced its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 520,967 shares of the construction company's stock after selling 32,885 shares during the period. Allspring Global Investments Holdings LLC owned about 0.24% of PulteGroup worth $53,774,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in PulteGroup by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company's stock worth $1,162,667,000 after acquiring an additional 261,934 shares during the period. State Street Corp boosted its holdings in shares of PulteGroup by 2.3% during the first quarter. State Street Corp now owns 10,343,160 shares of the construction company's stock worth $604,439,000 after purchasing an additional 228,040 shares during the period. Greenhaven Associates Inc. boosted its holdings in shares of PulteGroup by 0.4% during the fourth quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company's stock worth $591,076,000 after purchasing an additional 24,350 shares during the period. FMR LLC increased its stake in PulteGroup by 1.8% in the 3rd quarter. FMR LLC now owns 5,484,469 shares of the construction company's stock valued at $406,125,000 after buying an additional 95,945 shares during the period. Finally, First Trust Advisors LP increased its stake in PulteGroup by 29.4% in the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company's stock valued at $203,232,000 after buying an additional 1,101,565 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PHM. Citigroup boosted their price target on shares of PulteGroup from $116.00 to $127.00 and gave the company a "neutral" rating in a report on Friday, April 5th. Raymond James boosted their price target on PulteGroup from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. StockNews.com lowered shares of PulteGroup from a "buy" rating to a "hold" rating in a research report on Saturday, March 2nd. The Goldman Sachs Group boosted their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, January 11th. Finally, Wedbush restated a "neutral" rating and set a $85.00 price target on shares of PulteGroup in a report on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $106.47.

PulteGroup Stock Performance

NYSE:PHM traded up $1.19 during mid-day trading on Thursday, hitting $110.59. 1,174,919 shares of the company's stock traded hands, compared to its average volume of 1,795,584. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.77 and a beta of 1.56. The firm has a 50 day moving average of $109.97 and a two-hundred day moving average of $96.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. PulteGroup, Inc. has a 12 month low of $59.19 and a 12 month high of $121.07.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion during the quarter, compared to analysts' expectations of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. PulteGroup's revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.63 earnings per share. On average, equities analysts forecast that PulteGroup, Inc. will post 11.79 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.72%. PulteGroup's payout ratio is 6.81%.

PulteGroup announced that its board has authorized a share buyback program on Tuesday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, VP Brien P. O'meara sold 2,000 shares of the business's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is owned by company insiders.

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.