PGGM Investments Sells 23,631 Shares of PulteGroup, Inc. (NYSE:PHM)

PGGM Investments reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,773 shares of the construction company’s stock after selling 23,631 shares during the quarter. PGGM Investments owned about 0.06% of PulteGroup worth $13,911,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Unique Wealth Strategies LLC bought a new position in PulteGroup in the fourth quarter valued at approximately $1,379,000. Headlands Technologies LLC acquired a new stake in PulteGroup in the fourth quarter worth $200,000. Truist Financial Corp raised its holdings in PulteGroup by 248.6% in the fourth quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock worth $19,738,000 after purchasing an additional 136,370 shares during the period. Kovack Advisors Inc. acquired a new stake in PulteGroup in the fourth quarter worth $300,000. Finally, Trust Asset Management LLC acquired a new stake in PulteGroup in the fourth quarter worth $271,000. 89.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PHM has been the topic of several analyst reports. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and increased their target price for the stock from $93.00 to $120.00 in a report on Thursday, January 4th. Wedbush reiterated a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. Citigroup raised their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Oppenheimer raised their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.73.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the transaction, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM stock traded up $2.44 during midday trading on Friday, hitting $113.80. 1,747,255 shares of the company were exchanged, compared to its average volume of 1,741,133. The firm has a market capitalization of $23.94 billion, a P/E ratio of 9.11, a PEG ratio of 0.53 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.85. The firm’s 50 day moving average price is $111.28 and its two-hundred day moving average price is $99.59. PulteGroup, Inc. has a 52 week low of $64.70 and a 52 week high of $121.07.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. PulteGroup’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 EPS. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 12.66 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s payout ratio is presently 6.41%.

PulteGroup declared that its board has initiated a share buyback program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup 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.