Sei Investments Co. Reduces Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Sei Investments Co. cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 23.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,958 shares of the construction company’s stock after selling 71,774 shares during the period. Sei Investments Co.’s holdings in PulteGroup were worth $24,932,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in shares of PulteGroup by 6.3% in the third quarter. Thrivent Financial for Lutherans now owns 19,524 shares of the construction company’s stock valued at $2,803,000 after purchasing an additional 1,160 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in PulteGroup by 29.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,660 shares of the construction company’s stock valued at $669,000 after buying an additional 1,050 shares in the last quarter. Cerity Partners LLC grew its holdings in PulteGroup by 11.4% during the 3rd quarter. Cerity Partners LLC now owns 48,399 shares of the construction company’s stock valued at $6,947,000 after buying an additional 4,970 shares during the last quarter. Kingsview Wealth Management LLC increased its position in PulteGroup by 3.3% during the third quarter. Kingsview Wealth Management LLC now owns 3,586 shares of the construction company’s stock worth $515,000 after buying an additional 113 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of PulteGroup by 19.6% in the third quarter. Algert Global LLC now owns 3,633 shares of the construction company’s stock worth $521,000 after acquiring an additional 596 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Price Performance

PHM stock opened at $105.21 on Thursday. The stock has a 50-day moving average price of $108.12 and a two-hundred day moving average price of $121.71. The company has a market cap of $21.30 billion, a PE ratio of 7.15, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. 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 12-month low of $100.35 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup declared that its Board of Directors has approved a share repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PHM shares. Wells Fargo & Company decreased their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. UBS Group upped their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group lowered their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Barclays reduced their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The shares were 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 in the company, 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 at this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction 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 trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 over the last quarter. Company insiders own 0.83% of the company’s stock.

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.