Handelsbanken Fonder AB Sells 82,268 Shares of PulteGroup, Inc. (NYSE:PHM)

Handelsbanken Fonder AB cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 44.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,077 shares of the construction company’s stock after selling 82,268 shares during the quarter. Handelsbanken Fonder AB’s holdings in PulteGroup were worth $10,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its holdings in shares of PulteGroup by 4.0% in the 4th quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after purchasing an additional 28,833 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of PulteGroup by 24.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after purchasing an additional 5,257 shares during the period. American Century Companies Inc. raised its holdings in shares of PulteGroup by 65.0% in the 3rd quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock valued at $16,660,000 after purchasing an additional 88,638 shares during the period. International Assets Investment Management LLC bought a new stake in shares of PulteGroup in the 4th quarter valued at about $6,111,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of PulteGroup in the 4th quarter valued at about $1,342,000. 89.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 transaction of $206,180.00. Following the sale, the vice president now owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is currently owned by company insiders.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $112.26 on Thursday. The company’s 50 day moving average price is $110.90 and its two-hundred day moving average price is $99.05. PulteGroup, Inc. has a 12-month low of $64.41 and a 12-month high of $121.07. The firm has a market cap of $23.69 billion, a PE ratio of 8.99, a PEG ratio of 0.55 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.63 EPS. Equities research analysts predict that PulteGroup, Inc. will post 11.79 earnings per share for the current year.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy 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.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. PulteGroup’s dividend payout ratio is 6.41%.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of research analyst reports. Raymond James upped their target price on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday. UBS Group cut shares of PulteGroup from a “buy” rating to a “neutral” rating and increased their price target for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Barclays increased their price target on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada increased their price target on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.73.

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.