PulteGroup, Inc. (NYSE:PHM) Position Reduced by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 250,626 shares of the construction company’s stock after selling 13,764 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of PulteGroup worth $27,293,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

PHM has been the topic of several research reports. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. decreased their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Citigroup cut their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company decreased 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. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Activity at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.83% of the stock is currently owned by corporate insiders.

PulteGroup Trading Down 0.1 %

Shares of NYSE:PHM opened at $105.21 on Thursday. PulteGroup, Inc. has a 12-month low of $100.35 and a 12-month 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. The firm has a market capitalization of $21.30 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The firm has a fifty day moving average of $108.12 and a two-hundred day moving average of $121.71.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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%. On average, equities analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has initiated a share 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.84%. 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.