Russell Investments Group Ltd. Has $67.95 Million Position in PulteGroup, Inc. (NYSE:PHM)

Russell Investments Group Ltd. cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 624,015 shares of the construction company’s stock after selling 33,598 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.30% of PulteGroup worth $67,954,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PHM. Norges Bank bought a new stake in PulteGroup during the 4th quarter worth approximately $427,562,000. Amundi grew its holdings in shares of PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after purchasing an additional 716,716 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of PulteGroup by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock worth $1,300,034,000 after purchasing an additional 683,592 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of PulteGroup by 3,118.4% in the third quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company’s stock valued at $54,070,000 after buying an additional 365,012 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in PulteGroup by 837.9% during the 3rd quarter. Tidal Investments LLC now owns 173,727 shares of the construction company’s stock worth $24,935,000 after buying an additional 155,204 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the 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 transaction, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is owned by company insiders.

Analyst Ratings Changes

PHM has been the subject of several research reports. Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research report on Friday, January 31st. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Wells Fargo & Company decreased their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Finally, UBS Group raised their price target on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Trading Up 3.4 %

PHM opened at $101.05 on Monday. The firm’s fifty day moving average is $106.12 and its two-hundred day moving average is $119.92. The firm has a market cap of $20.46 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a twelve month low of $95.14 and a twelve month high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data 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 return on equity of 24.43% and a net margin of 17.18%. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 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.