Envestnet Portfolio Solutions Inc. Sells 5,007 Shares of PulteGroup, Inc. (NYSE:PHM)

Envestnet Portfolio Solutions Inc. cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 24.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,281 shares of the construction company’s stock after selling 5,007 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in PulteGroup were worth $1,664,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PHM. Franklin Resources Inc. boosted its position in shares of PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after acquiring an additional 585,735 shares during the last quarter. FMR LLC raised its stake in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PulteGroup by 7.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after purchasing an additional 135,391 shares during the last quarter. Amundi grew its stake in shares of PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after buying an additional 716,716 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of PulteGroup by 10.0% in the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock worth $155,856,000 after buying an additional 129,975 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value 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. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value 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. This trade represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,191 shares of company stock valued at $2,256,367. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PHM shares. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Barclays lowered their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Oppenheimer cut their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Seven research 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 a consensus rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Stock Down 2.2 %

Shares of NYSE:PHM opened at $103.04 on Friday. The business’s 50 day moving average is $108.54 and its 200 day moving average is $122.25. The stock has a market cap of $20.86 billion, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 52-week low of $100.35 and a 52-week high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last posted its quarterly 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%. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its board has approved a stock buyback plan on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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 $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.85%. PulteGroup’s dividend payout ratio is currently 5.98%.

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.