Allspring Global Investments Holdings LLC Sells 176,862 Shares of PulteGroup, Inc. (NYSE:PHM)

Allspring Global Investments Holdings LLC lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 684,625 shares of the construction company’s stock after selling 176,862 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.33% of PulteGroup worth $73,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Logan Capital Management Inc. grew its stake in shares of PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after acquiring an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in PulteGroup by 38.1% during the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after purchasing an additional 33,472 shares during the last quarter. Trustmark National Bank Trust Department grew its position in PulteGroup by 39.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after purchasing an additional 11,269 shares in the last quarter. Systematic Financial Management LP increased its stake in PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after buying an additional 4,840 shares during the last quarter. Finally, Nilsine Partners LLC lifted its position in shares of PulteGroup by 929.2% during the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after buying an additional 18,575 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wedbush reiterated an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Citigroup decreased their price objective 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Trading Down 1.2 %

Shares of PHM stock opened at $106.01 on Thursday. The stock has a market capitalization of $21.74 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.29 and a beta of 1.68. The company’s fifty day simple moving average is $113.91 and its two-hundred day simple moving average is $126.63. PulteGroup, Inc. has a 1 year low of $100.24 and a 1 year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.73.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (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%. As a group, analysts anticipate that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

PulteGroup declared that its Board of Directors 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 purchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

PulteGroup Company Profile

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.