QRG Capital Management Inc. Reduces Position in PulteGroup, Inc. (NYSE:PHM)

QRG Capital Management Inc. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 395,079 shares of the construction company’s stock after selling 17,644 shares during the quarter. QRG Capital Management Inc. owned 0.19% of PulteGroup worth $43,024,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Logan Capital Management Inc. increased its position in shares of PulteGroup by 67.7% during the third 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 during the last quarter. Sanctuary Advisors LLC increased its position in shares of 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 acquiring an additional 33,472 shares during the last quarter. Trustmark National Bank Trust Department increased its position in shares of PulteGroup by 39.8% during the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after acquiring an additional 11,269 shares during the last quarter. Systematic Financial Management LP increased its position in shares of PulteGroup by 3.9% during the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after acquiring an additional 4,840 shares during the last quarter. Finally, Nilsine Partners LLC increased its position in shares of PulteGroup by 929.2% during the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after acquiring an additional 18,575 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Oppenheimer lowered their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Wedbush reissued an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $104.41 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $110.23 and a 200-day simple moving average of $124.99. The company has a market cap of $21.14 billion, a PE ratio of 7.10, a P/E/G ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 12-month low of $100.54 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed 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 0.84%. PulteGroup’s dividend payout ratio is presently 5.98%.

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

Insider Transactions at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.75% of the company’s stock.

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.