Comerica Bank Sells 49,690 Shares of PulteGroup, Inc. (NYSE:PHM)

Comerica Bank lessened its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 41.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,286 shares of the construction company's stock after selling 49,690 shares during the period. Comerica Bank's holdings in PulteGroup were worth $7,763,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Nilsine Partners LLC lifted its holdings in PulteGroup by 929.2% in the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company's stock valued at $2,240,000 after buying an additional 18,575 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of PulteGroup by 3.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company's stock valued at $496,000 after purchasing an additional 143 shares during the period. Argyle Capital Management LLC boosted its position in shares of PulteGroup by 1.5% in the 4th quarter. Argyle Capital Management LLC now owns 42,241 shares of the construction company's stock worth $4,600,000 after purchasing an additional 641 shares during the last quarter. Eastern Bank boosted its position in shares of PulteGroup by 4.6% in the 4th quarter. Eastern Bank now owns 142,740 shares of the construction company's stock worth $15,544,000 after purchasing an additional 6,243 shares during the last quarter. Finally, Merit Financial Group LLC grew its stake in shares of PulteGroup by 416.0% during the fourth quarter. Merit Financial Group LLC now owns 12,775 shares of the construction company's stock worth $1,391,000 after purchasing an additional 10,299 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Up 0.5 %

PHM traded up $0.51 on Wednesday, hitting $101.35. 1,652,835 shares of the company were exchanged, compared to its average volume of 1,996,133. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a market cap of $20.31 billion, a PE ratio of 6.89, a PEG ratio of 0.29 and a beta of 1.37. 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 stock's fifty day moving average is $101.15 and its 200-day moving average is $112.81.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.10. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates 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 business earned $3.10 EPS. Equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Tuesday, June 17th. PulteGroup's payout ratio is presently 6.21%.

Insider Activity at PulteGroup

In related news, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now owns 11,372 shares of the company's stock, valued at $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company's stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of analyst reports. Bank of America cut their price target on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Barclays lowered their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Oppenheimer reduced their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Evercore ISI increased their price target on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price objective on PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $134.69.

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.