PulteGroup, Inc. (NYSE:PHM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 19.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,381 shares of the construction company’s stock after selling 5,715 shares during the period. State of Alaska Department of Revenue’s holdings in PulteGroup were worth $2,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Grove Bank & Trust lifted its position in shares of PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares in the last quarter. Cromwell Holdings LLC lifted its position in shares of PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after purchasing an additional 83 shares in the last quarter. Concord Wealth Partners lifted its position in shares of PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after purchasing an additional 83 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of PulteGroup by 3.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock worth $438,000 after purchasing an additional 88 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its position in shares of PulteGroup by 16.7% during the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock worth $68,000 after purchasing an additional 89 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of recent research reports. Bank of America reduced their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. The Goldman Sachs Group reduced their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI cut their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group upped their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, BTIG Research upped their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Stock Up 0.6 %

PulteGroup stock opened at $106.55 on Tuesday. The company has a 50-day simple moving average of $115.02 and a 200-day simple moving average of $126.92. The firm has a market capitalization of $21.85 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.29 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, equities analysts expect that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

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 given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. PulteGroup’s dividend payout ratio is currently 5.98%.

PulteGroup declared that its board has approved a stock repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

PulteGroup 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.