PulteGroup, Inc. (NYSE:PHM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 0.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 220,780 shares of the construction company’s stock after selling 825 shares during the period. Retirement Systems of Alabama’s holdings in PulteGroup were worth $24,043,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Fortitude Family Office LLC grew its position in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in PulteGroup during the 3rd quarter worth $29,000. JNBA Financial Advisors acquired a new position in PulteGroup in the third quarter valued at $43,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of PulteGroup by 1,059.3% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after buying an additional 286 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of PulteGroup during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 0.9 %

Shares of PHM opened at $111.33 on Thursday. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47. The firm has a market capitalization of $22.83 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 0.49 and a beta of 1.68. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $116.64 and its 200 day simple moving average is $127.25.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping 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 research analysts forecast that PulteGroup, Inc. will post 13.34 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.79%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its Board of Directors has approved a share buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup lowered their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Barclays decreased their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. UBS Group increased their target price on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Oppenheimer cut their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $140.86.

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.