Louisiana State Employees Retirement System Reduces Stock Position in PulteGroup, Inc. (NYSE:PHM)

Louisiana State Employees Retirement System cut its stake in PulteGroup, Inc. (NYSE:PHM) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the construction company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in PulteGroup were worth $1,198,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on PHM shares. Oppenheimer cut their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Citigroup reduced their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, BTIG Research increased their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Stock Performance

Shares of PHM stock opened at $107.45 on Monday. The firm has a market cap of $22.04 billion, a P/E ratio of 7.30, a P/E/G ratio of 0.29 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47. The firm’s 50 day moving average price is $112.63 and its 200-day moving average price is $126.12.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results 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, equities research analysts predict that PulteGroup, Inc. will post 12.43 EPS 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 paid a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.82%. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup declared that its Board of Directors has authorized a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at PulteGroup

In other news, 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 sale, the vice president now directly owns 11,372 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. 0.83% of the stock is owned by insiders.

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.