PulteGroup, Inc. (NYSE:PHM) Stake Lowered by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,858 shares of the construction company's stock after selling 37,730 shares during the period. Vontobel Holding Ltd. owned about 0.07% of PulteGroup worth $15,984,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PHM. Norges Bank purchased a new stake in shares of PulteGroup in the fourth quarter valued at about $163,931,000. First Trust Advisors LP lifted 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 in the last quarter. Pacer Advisors Inc. grew its holdings in PulteGroup by 54.6% during the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company's stock valued at $310,043,000 after buying an additional 1,060,466 shares during the last quarter. Invesco Ltd. increased its position in PulteGroup by 36.3% during the first quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company's stock worth $152,982,000 after buying an additional 972,310 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of PulteGroup in the fourth quarter worth $37,289,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Trading Down 1.8 %

NYSE PHM traded down $1.91 during mid-day trading on Tuesday, hitting $106.88. The company's stock had a trading volume of 1,576,944 shares, compared to its average volume of 1,789,617. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a 52-week low of $59.95 and a 52-week high of $121.07. The stock's fifty day simple moving average is $110.24 and its two-hundred day simple moving average is $97.48. The firm has a market capitalization of $22.55 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating analysts' consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the firm posted $3.63 EPS. The business's revenue for the quarter was down 15.5% compared to the same quarter last year. Research analysts expect that PulteGroup, Inc. will post 11.79 EPS for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Thursday, March 14th. PulteGroup's payout ratio is 6.81%.

PulteGroup declared that its Board of Directors has approved a share repurchase program on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PHM shares. Wedbush reiterated a "neutral" rating and set a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. Citigroup upped their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the company a "neutral" rating in a research note on Friday, April 5th. Barclays raised their target price on shares of PulteGroup from $126.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, April 4th. The Goldman Sachs Group boosted their price target on PulteGroup from $91.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, January 11th. Finally, StockNews.com cut PulteGroup from a "buy" rating to a "hold" rating in a report on Saturday, March 2nd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $106.47.

Insider Activity

In related news, VP Brien P. O'meara sold 2,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.83% of the company's stock.

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.