New York State Teachers Retirement System Sells 1,709 Shares of PulteGroup, Inc. (NYSE:PHM)

New York State Teachers Retirement System cut its stake in PulteGroup, Inc. (NYSE:PHM) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 256,622 shares of the construction company’s stock after selling 1,709 shares during the period. New York State Teachers Retirement System’s holdings in PulteGroup were worth $27,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Fortitude Family Office LLC raised its holdings in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup in the 3rd quarter worth about $29,000. Hager Investment Management Services LLC bought a new position in shares of PulteGroup in the 4th quarter worth about $29,000. R Squared Ltd purchased a new position in PulteGroup during the 4th quarter valued at about $39,000. Finally, JNBA Financial Advisors purchased a new position in PulteGroup during the 3rd quarter valued at about $43,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of NYSE PHM opened at $107.45 on Friday. PulteGroup, Inc. has a 52 week low of $100.24 and a 52 week high of $149.47. The business’s 50 day moving average price is $112.63 and its 200 day moving average price is $126.12. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $21.75 billion, a P/E ratio of 7.30, a P/E/G ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results 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%. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup declared that its board has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on PHM. BTIG Research raised their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Seaport Res Ptn cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Citigroup reduced their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Buying and Selling at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares of the company’s stock, valued at $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock valued at $2,256,367 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

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.