Zacks Investment Management Sells 46,838 Shares of PulteGroup, Inc. (NYSE:PHM)

Zacks Investment Management trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,356 shares of the construction company's stock after selling 46,838 shares during the period. Zacks Investment Management owned about 0.11% of PulteGroup worth $23,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PHM. Morse Asset Management Inc raised its stake in PulteGroup by 26.2% in the 3rd quarter. Morse Asset Management Inc now owns 9,735 shares of the construction company's stock valued at $1,397,000 after purchasing an additional 2,020 shares during the last quarter. Aldebaran Financial Inc. boosted its position in PulteGroup by 99.1% during the third quarter. Aldebaran Financial Inc. now owns 5,365 shares of the construction company's stock worth $770,000 after acquiring an additional 2,670 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in PulteGroup in the 3rd quarter worth approximately $234,000. World Investment Advisors LLC raised its holdings in PulteGroup by 21.8% in the 3rd quarter. World Investment Advisors LLC now owns 9,515 shares of the construction company's stock valued at $1,366,000 after acquiring an additional 1,706 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in PulteGroup during the third quarter worth about $732,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Up 7.3 %

Shares of NYSE PHM traded up $6.77 during mid-day trading on Tuesday, reaching $99.88. The company had a trading volume of 742,843 shares, compared to its average volume of 1,993,243. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The stock's 50 day moving average is $101.78 and its 200-day moving average is $115.70. The stock has a market capitalization of $20.22 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.88%. PulteGroup's dividend payout ratio (DPR) is currently 5.98%.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on PHM. Citigroup dropped their price target on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Wedbush restated an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. UBS Group boosted their target price on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a report on Friday, January 31st. The Goldman Sachs Group lowered their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Finally, Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.21.

Insiders Place Their Bets

In related news, EVP Todd N. Sheldon sold 15,191 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 over the last 90 days. 0.76% of the stock is currently 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.