Charles Schwab Investment Management Inc. Lowers Stock Position in PulteGroup, Inc. (NYSE:PHM)

Charles Schwab Investment Management Inc. lessened its stake in PulteGroup, Inc. (NYSE:PHMFree Report) by 31.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,368,296 shares of the construction company’s stock after selling 619,688 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of PulteGroup worth $101,322,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of PulteGroup by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock valued at $1,162,667,000 after purchasing an additional 261,934 shares in the last quarter. BlackRock Inc. raised its stake in shares of PulteGroup by 10.8% in the 2nd quarter. BlackRock Inc. now owns 20,885,474 shares of the construction company’s stock valued at $1,622,384,000 after purchasing an additional 2,030,200 shares in the last quarter. State Street Corp raised its stake in shares of PulteGroup by 2.3% in the 1st quarter. State Street Corp now owns 10,343,160 shares of the construction company’s stock valued at $604,439,000 after purchasing an additional 228,040 shares in the last quarter. First Trust Advisors LP raised its stake in shares of PulteGroup by 29.4% in the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after purchasing an additional 1,101,565 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of PulteGroup by 18.5% in the 4th quarter. Morgan Stanley now owns 3,745,286 shares of the construction company’s stock valued at $170,523,000 after purchasing an additional 585,199 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PHM shares. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. UBS Group lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $93.00 to $120.00 in a research note on Thursday, January 4th. Royal Bank of Canada increased their price objective on shares of PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Raymond James increased their price objective on shares of PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Wells Fargo & Company increased their price objective on shares of PulteGroup from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 8th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.31.

Get Our Latest Report on PulteGroup

Insider Activity

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

PulteGroup Price Performance

NYSE PHM opened at $103.10 on Friday. PulteGroup, Inc. has a 52 week low of $52.24 and a 52 week high of $110.75. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19. The stock has a market cap of $21.87 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 0.70 and a beta of 1.56. The company has a 50-day moving average price of $102.29 and a two-hundred day moving average price of $87.46.

PulteGroup (NYSE:PHMGet Free Report) last posted its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. PulteGroup’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.63 EPS. Analysts forecast that PulteGroup, Inc. will post 11.72 EPS for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is presently 6.81%.

PulteGroup declared that its board has initiated a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About PulteGroup

(Free Report)

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, American West, and John Wieland Homes and Neighborhoods brand names.

Further Reading

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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