Alliancebernstein L.P. Sells 141,093 Shares of PulteGroup, Inc. (NYSE:PHM)

Alliancebernstein L.P. lowered its holdings in PulteGroup, Inc. (NYSE:PHMGet Rating) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,309,287 shares of the construction company’s stock after selling 141,093 shares during the quarter. Alliancebernstein L.P. owned about 2.14% of PulteGroup worth $303,479,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of PHM. Royal Bank of Canada grew its holdings in shares of PulteGroup by 23.6% during the third quarter. Royal Bank of Canada now owns 1,972,991 shares of the construction company’s stock worth $90,600,000 after buying an additional 376,559 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in PulteGroup by 12.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 51,594 shares of the construction company’s stock worth $2,369,000 after purchasing an additional 5,763 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in PulteGroup by 5.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 106,599 shares of the construction company’s stock worth $6,093,000 after purchasing an additional 5,090 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in PulteGroup by 88.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,177,148 shares of the construction company’s stock worth $67,285,000 after purchasing an additional 553,252 shares during the last quarter. Finally, Xponance Inc. increased its stake in PulteGroup by 4.9% during the 4th quarter. Xponance Inc. now owns 58,548 shares of the construction company’s stock worth $3,347,000 after acquiring an additional 2,727 shares during the period. 90.32% of the stock is currently owned by institutional investors.

In related news, VP John J. Chadwick sold 15,090 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $49.05, for a total transaction of $740,164.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.71% of the stock is owned by insiders.

Shares of PHM opened at $45.69 on Friday. The company has a market capitalization of $10.86 billion, a PE ratio of 5.60, a PEG ratio of 0.85 and a beta of 1.33. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $42.93 and its two-hundred day moving average price is $48.62. PulteGroup, Inc. has a 12 month low of $39.61 and a 12 month high of $58.83.

PulteGroup (NYSE:PHMGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The construction company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.09 billion. PulteGroup had a return on equity of 27.91% and a net margin of 14.58%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. Equities research analysts predict that PulteGroup, Inc. will post 10.72 EPS for the current fiscal year.

PulteGroup declared that its board has authorized a share repurchase program on Tuesday, February 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, June 9th. PulteGroup’s dividend payout ratio is 7.35%.

Several equities analysts have recently issued reports on PHM shares. The Goldman Sachs Group decreased their price target on PulteGroup from $63.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Barclays lowered PulteGroup from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $72.00 to $49.00 in a research note on Thursday, March 31st. Wedbush reduced their price objective on PulteGroup from $68.00 to $57.00 in a research report on Monday, May 2nd. Royal Bank of Canada reduced their price objective on PulteGroup from $63.00 to $56.00 in a research report on Friday, April 29th. Finally, JPMorgan Chase & Co. reduced their price objective on PulteGroup from $57.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 13th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PulteGroup presently has a consensus rating of “Buy” and a consensus price target of $56.67.

PulteGroup Company Profile (Get Rating)

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, American West, and John Wieland Homes and Neighborhoods brand names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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