PulteGroup, Inc. (NYSE:PHM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 3.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 437,832 shares of the construction company’s stock after selling 17,498 shares during the quarter. California Public Employees Retirement System’s holdings in PulteGroup were worth $45,193,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Arlington Trust Co LLC purchased a new position in PulteGroup in the third quarter valued at about $33,000. Baystate Wealth Management LLC increased its holdings in PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in PulteGroup in the third quarter worth approximately $36,000. Rakuten Securities Inc. bought a new position in PulteGroup during the fourth quarter valued at approximately $37,000. Finally, Lindbrook Capital LLC lifted its stake in PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

PulteGroup Price Performance

Shares of PHM opened at $113.74 on Friday. The stock has a market cap of $23.92 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.51 and a beta of 1.56. The business’s fifty day moving average is $111.28 and its 200 day moving average is $99.42. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a 12-month low of $64.70 and a 12-month high of $121.07.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same period last year, the company earned $3.63 earnings per share. The business’s revenue was down 15.5% on a year-over-year basis. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.28 earnings per share for the current fiscal year.

PulteGroup announced that its board has approved a stock buyback plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup’s payout ratio is 6.41%.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of recent research reports. Wedbush reissued a “neutral” rating and set a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. Royal Bank of Canada upped their price target on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research report on Wednesday. Jefferies Financial Group increased their price objective on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday. Five research 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 stock currently has an average rating of “Moderate Buy” and an average price target of $111.73.

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.