PulteGroup, Inc. (NYSE:PHM) Position Reduced by Swiss National Bank

Swiss National Bank lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 686,200 shares of the construction company’s stock after selling 32,800 shares during the period. Swiss National Bank owned 0.32% of PulteGroup worth $70,830,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PHM. Baystate Wealth Management LLC increased its holdings in PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after buying an additional 319 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of PulteGroup in the 3rd quarter valued at approximately $36,000. Rakuten Securities Inc. acquired a new stake in shares of PulteGroup during the 4th quarter valued at approximately $37,000. Lindbrook Capital LLC lifted its stake in PulteGroup by 335.6% during the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in PulteGroup by 3,463.6% in the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock worth $40,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.

PulteGroup Stock Up 2.5 %

PulteGroup stock opened at $116.64 on Monday. The company’s 50-day moving average price is $112.28 and its two-hundred day moving average price is $101.21. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 52 week low of $65.16 and a 52 week high of $121.07.

PulteGroup announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup increased their target price on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. The Goldman Sachs Group raised their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Raymond James reaffirmed an “outperform” rating and set a $135.00 target price (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, Wedbush restated a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $111.73.

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.