Prudential Financial Inc. Has $15.52 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Prudential Financial Inc. lowered its position in PulteGroup, Inc. (NYSE:PHM) by 11.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 142,473 shares of the construction company’s stock after selling 17,541 shares during the quarter. Prudential Financial Inc.’s holdings in PulteGroup were worth $15,515,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PHM. Franklin Resources Inc. grew its stake in shares of PulteGroup by 5.5% in 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 buying an additional 585,735 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PulteGroup by 7.8% in 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 worth $267,546,000 after acquiring an additional 135,391 shares in the last quarter. Amundi increased its stake in shares of PulteGroup by 77.9% during the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after purchasing an additional 716,716 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of PulteGroup by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after purchasing an additional 129,975 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PulteGroup by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,351,491 shares of the construction company’s stock valued at $147,177,000 after purchasing an additional 19,829 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Performance

NYSE:PHM opened at $105.12 on Friday. The firm’s 50-day moving average is $107.89 and its 200-day moving average is $121.60. The company has a market cap of $21.28 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup, Inc. has a 52-week low of $100.35 and a 52-week high of $149.47.

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

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.84%. PulteGroup’s dividend payout ratio (DPR) is currently 5.98%.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group lowered their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Oppenheimer reduced their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.86.

Insiders Place Their Bets

In other news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the company’s 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 completion of the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 over the last 90 days. Corporate 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.