Vinva Investment Management Ltd Lowers Position in PulteGroup, Inc. (NYSE:PHM)

Vinva Investment Management Ltd cut its stake in PulteGroup, Inc. (NYSE:PHM) by 88.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,753 shares of the construction company’s stock after selling 105,714 shares during the quarter. Vinva Investment Management Ltd’s holdings in PulteGroup were worth $1,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. Amundi lifted its holdings in shares of PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after purchasing an additional 716,716 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of PulteGroup by 5.5% during the third 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 during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of PulteGroup during the third quarter valued at approximately $66,485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after purchasing an additional 407,764 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Up 0.2 %

NYSE:PHM opened at $105.33 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12 month low of $100.33 and a 12 month high of $149.47. The company has a market cap of $21.32 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The company has a 50 day simple moving average of $108.63 and a two-hundred day simple moving average of $122.45.

PulteGroup (NYSE:PHM) last posted its earnings results 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 net margin of 17.18% and a return on equity of 24.43%. Research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its board has authorized a share repurchase program on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

Insider Activity at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,191 shares of company stock worth $2,256,367. 0.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PHM has been the subject of several recent research reports. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup lowered their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group lowered their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company reduced their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Oppenheimer reduced their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.