UniSuper Management Pty Ltd Reduces Holdings in PulteGroup, Inc. (NYSE:PHM)

UniSuper Management Pty Ltd lowered its position in PulteGroup, Inc. (NYSE:PHM) by 14.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,175 shares of the construction company’s stock after selling 3,797 shares during the quarter. UniSuper Management Pty Ltd’s holdings in PulteGroup were worth $2,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC acquired a new position in shares of PulteGroup in the fourth quarter worth about $29,000. Fortitude Family Office LLC raised its position in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares in the last quarter. R Squared Ltd acquired a new position in shares of PulteGroup in the 4th quarter valued at approximately $39,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of PulteGroup by 41.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after buying an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. grew its position in shares of PulteGroup by 642.2% during the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after buying an additional 411 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of NYSE PHM opened at $101.76 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $20.60 billion, a PE ratio of 6.92, a P/E/G ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 1-year low of $100.35 and a 1-year high of $149.47. The business’s fifty day moving average price is $107.58 and its two-hundred day moving average price is $121.31.

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

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.86%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

PulteGroup announced that its Board of Directors has authorized a share repurchase program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Oppenheimer reduced their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. The Goldman Sachs Group reduced their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays lowered their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Transactions at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction dated 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 directly owns 11,372 shares in the company, valued at $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the sale, the director now directly owns 56,617 shares of the company’s stock, valued at $6,026,879.65. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.76% of the company’s stock.

PulteGroup Company 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.