Vinva Investment Management Ltd Reduces Stock Position in PulteGroup, Inc. (NYSE:PHM)

Vinva Investment Management Ltd lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 88.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,753 shares of the construction company’s stock after selling 105,714 shares during the period. Vinva Investment Management Ltd’s holdings in PulteGroup were worth $1,497,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PHM. Thrivent Financial for Lutherans raised its position in shares of PulteGroup by 6.3% in the third quarter. Thrivent Financial for Lutherans now owns 19,524 shares of the construction company’s stock worth $2,803,000 after buying an additional 1,160 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of PulteGroup by 4.8% in the third quarter. Prospera Financial Services Inc now owns 9,654 shares of the construction company’s stock worth $1,386,000 after buying an additional 438 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of PulteGroup by 5.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,426 shares of the construction company’s stock worth $348,000 after buying an additional 115 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of PulteGroup in the third quarter worth $788,000. Finally, PNC Financial Services Group Inc. raised its position in shares of PulteGroup by 6.1% in the third quarter. PNC Financial Services Group Inc. now owns 36,152 shares of the construction company’s stock worth $5,189,000 after buying an additional 2,067 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 0.2 %

Shares of NYSE:PHM opened at $105.33 on Friday. The stock’s 50-day moving average price is $108.63 and its 200-day moving average price is $122.45. PulteGroup, Inc. has a 12-month low of $100.33 and a 12-month high of $149.47. The stock has a market capitalization of $21.32 billion, a P/E ratio of 7.16, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data 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, equities analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its Board of Directors has approved a stock buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to repurchase 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.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. PulteGroup’s dividend payout ratio is currently 5.98%.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PHM. Wells Fargo & Company lowered 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. reduced their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Barclays reduced their target price on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.