PulteGroup, Inc. (NYSE:PHM) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 81.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,687 shares of the construction company’s stock after selling 25,459 shares during the period. Ontario Teachers Pension Plan Board’s holdings in PulteGroup were worth $587,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. increased its position in shares of PulteGroup by 13.7% during the fourth quarter. Franklin Resources Inc. now owns 426,010 shares of the construction company’s stock valued at $43,973,000 after acquiring an additional 51,277 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of PulteGroup by 31.6% in the fourth quarter. CreativeOne Wealth LLC now owns 4,227 shares of the construction company’s stock valued at $437,000 after purchasing an additional 1,016 shares in the last quarter. Quest Partners LLC acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $497,000. Trexquant Investment LP acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $8,751,000. Finally, Clearbridge Investments LLC acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $201,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 1.4 %

Shares of NYSE:PHM opened at $114.30 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a twelve month low of $65.28 and a twelve month high of $122.72. The company has a market capitalization of $24.04 billion, a PE ratio of 9.15, a P/E/G ratio of 0.51 and a beta of 1.56. The firm has a 50 day simple moving average of $114.27 and a 200-day simple moving average of $105.45.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.59 billion. On average, equities analysts predict that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup declared that its board has authorized a share buyback program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.70%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PHM shares. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Citigroup lifted their price objective on shares of PulteGroup from $127.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Royal Bank of Canada lifted their price objective on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. Wedbush restated a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a report on Wednesday, January 31st. Finally, StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $111.87.

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.