The Manufacturers Life Insurance Company Reduces Stake in PulteGroup, Inc. (NYSE:PHM)

The Manufacturers Life Insurance Company reduced its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,048 shares of the construction company's stock after selling 2,479 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of PulteGroup worth $13,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. grew its stake in shares of PulteGroup by 16.7% in the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock valued at $68,000 after buying an additional 89 shares during the period. Premier Path Wealth Partners LLC increased its position in shares of PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock valued at $280,000 after acquiring an additional 95 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock valued at $1,440,000 after purchasing an additional 95 shares during the last quarter. Fidelis Capital Partners LLC boosted its position in shares of PulteGroup by 2.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after buying an additional 103 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PulteGroup stock traded up $0.51 during trading on Wednesday, reaching $101.35. The company's stock had a trading volume of 1,652,835 shares, compared to its average volume of 1,996,133. The company has a 50-day moving average price of $101.15 and a two-hundred day moving average price of $112.81. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a market cap of $20.31 billion, a PE ratio of 6.89, a P/E/G ratio of 0.29 and a beta of 1.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

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, beating analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The business had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.86 billion. During the same period in the prior year, the company earned $3.10 earnings per share. On average, analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

PulteGroup Dividend Announcement

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

Insider Activity

In other 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 completion of the transaction, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,191 shares of company stock valued at $2,256,367. Company insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Wedbush restated an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Barclays lowered their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Bank of America decreased their price target on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Finally, Oppenheimer dropped their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.