PulteGroup, Inc. (NYSE:PHM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 7.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 370,030 shares of the construction company’s stock after selling 30,983 shares during the quarter. California Public Employees Retirement System’s holdings in PulteGroup were worth $40,296,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PHM. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter worth $29,000. Fortitude Family Office LLC boosted its position in PulteGroup by 74.1% during the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after purchasing an additional 137 shares during the period. R Squared Ltd purchased a new stake in PulteGroup during the 4th quarter worth $39,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after purchasing an additional 131 shares in the last quarter. Finally, Oakworth Capital Inc. raised its position in PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after purchasing an additional 411 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 1.2 %

NYSE:PHM opened at $104.32 on Thursday. The company has a market cap of $21.12 billion, a PE ratio of 7.09, a P/E/G ratio of 0.29 and a beta of 1.71. The business’s 50 day moving average is $106.79 and its two-hundred day moving average is $120.64. 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, Inc. has a 52 week low of $99.58 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.84%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays lowered their target price on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research report on Friday, January 31st. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Oppenheimer decreased their target price 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. Finally, Citigroup dropped their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.86.

Insider Buying and Selling

In related news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock worth $2,256,367 over the last quarter. 0.76% of the stock is owned by company insiders.

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.