State of Tennessee Department of Treasury Has $11.38 Million Position in PulteGroup, Inc. (NYSE:PHM)

State of Tennessee Department of Treasury reduced its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 12.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,521 shares of the construction company's stock after selling 14,893 shares during the period. State of Tennessee Department of Treasury owned approximately 0.05% of PulteGroup worth $11,382,000 at the end of the most recent quarter.

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

PulteGroup Stock Performance

PHM traded down $1.02 on Tuesday, hitting $101.40. 336,123 shares of the stock traded hands, compared to its average volume of 2,307,960. The business has a fifty day moving average price of $101.33 and a two-hundred day moving average price of $114.39. 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, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The firm has a market capitalization of $20.32 billion, a PE ratio of 6.88, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the previous year, the firm posted $3.10 EPS. On average, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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

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 paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date was Tuesday, March 18th. PulteGroup's payout ratio is 6.21%.

Insider Buying and Selling

In other news, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction dated 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 trade represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business'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 transaction, the director now owns 56,617 shares of the company's stock, valued at $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last 90 days. 0.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PHM shares. Evercore ISI upped their target price on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Citigroup decreased their target price on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Barclays cut their target price on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and a consensus target price of $134.69.

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.