PulteGroup, Inc. (NYSE:PHM) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,426,619 shares of the construction company's stock after selling 202,968 shares during the period. Los Angeles Capital Management LLC owned approximately 0.66% of PulteGroup worth $147,256,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PHM. Certuity LLC bought a new stake in PulteGroup during the fourth quarter worth about $245,000. Nordea Investment Management AB lifted its stake in PulteGroup by 4.0% during the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company's stock worth $78,030,000 after purchasing an additional 28,833 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in PulteGroup by 24.9% during the third quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company's stock worth $1,951,000 after purchasing an additional 5,257 shares during the last quarter. Truist Financial Corp lifted its stake in PulteGroup by 248.6% during the fourth quarter. Truist Financial Corp now owns 191,219 shares of the construction company's stock worth $19,738,000 after purchasing an additional 136,370 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in PulteGroup by 65.0% during the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company's stock worth $16,660,000 after purchasing an additional 88,638 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

Insider Activity

In other news, VP Brien P. O'meara sold 2,000 shares of the company's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.83% of the company's stock.

PulteGroup Stock Performance

Shares of NYSE PHM traded up $2.04 during midday trading on Thursday, hitting $113.86. 1,678,616 shares of the stock traded hands, compared to its average volume of 1,810,941. The firm has a 50-day moving average of $112.06 and a two-hundred day moving average of $100.51. The firm has a market capitalization of $23.95 billion, a P/E ratio of 9.12, a PEG ratio of 0.50 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. PulteGroup, Inc. has a one year low of $65.16 and a one year high of $121.07.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $4.29 billion for the quarter, compared to analysts' expectations of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The company's revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 12.62 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PHM. Zelman & Associates raised PulteGroup from a "neutral" rating to an "outperform" rating in a research note on Wednesday, April 24th. Wedbush reissued a "neutral" rating and issued a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Raymond James reissued an "outperform" rating and issued a $135.00 target price (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Jefferies Financial Group boosted their target price on PulteGroup from $126.00 to $131.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. Finally, Barclays boosted their target price on PulteGroup from $126.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $111.73.

About PulteGroup

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.