PulteGroup, Inc. (NYSE:PHM) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 395,079 shares of the construction company’s stock after selling 17,644 shares during the period. QRG Capital Management Inc.’s holdings in PulteGroup were worth $43,024,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PHM. Fortitude Family Office LLC increased its holdings in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of PulteGroup in the third quarter valued at $29,000. Hager Investment Management Services LLC bought a new position in shares of PulteGroup in the fourth quarter valued at $29,000. JNBA Financial Advisors bought a new position in shares of PulteGroup in the third quarter valued at $43,000. Finally, R Squared Ltd bought a new position in shares of PulteGroup in the fourth quarter valued at $39,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Down 1.7 %

NYSE PHM opened at $104.41 on Thursday. PulteGroup, Inc. has a 1-year low of $100.54 and a 1-year high of $149.47. 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 company has a market capitalization of $21.14 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The firm’s fifty day simple moving average is $110.23 and its 200-day simple moving average is $124.99.

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 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%. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

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

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 0.84%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

Insider Buying and Selling

In related news, EVP Todd N. Sheldon sold 15,191 shares of the company’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 completion of the sale, the executive vice president now directly owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This trade represents a 4.23 % 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. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PHM shares. Wells Fargo & Company cut their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. JPMorgan Chase & Co. cut 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. Finally, StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.