PulteGroup, Inc. (NYSE:PHM) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,157 shares of the construction company’s stock after selling 1,859 shares during the quarter. M&T Bank Corp’s holdings in PulteGroup were worth $2,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. raised its holdings 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 purchasing an additional 585,735 shares in the last quarter. FMR LLC grew its position in shares of PulteGroup by 102.3% in the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after buying an additional 4,571,757 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PulteGroup by 7.8% in the 3rd 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 buying an additional 135,391 shares during the last quarter. Nordea Investment Management AB grew its position 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 valued at $155,856,000 after buying an additional 129,975 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 buying an additional 19,829 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Down 0.2 %

PHM stock opened at $108.06 on Friday. PulteGroup, Inc. has a one year low of $100.54 and a one year high of $149.47. The stock has a market capitalization of $21.88 billion, a PE ratio of 7.35, a price-to-earnings-growth 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. The company has a fifty day moving average of $109.48 and a 200-day moving average of $124.09.

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

PulteGroup announced that its Board of Directors has approved a stock buyback plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

Insider Activity at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brien P. O’meara sold 3,500 shares of the firm’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 owns 11,372 shares of the company’s stock, 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. Insiders sold 21,191 shares of company stock worth $2,256,367 over the last 90 days. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group dropped their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Citigroup dropped their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Barclays lowered their price objective 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. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.86.

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.