Altshuler Shaham Ltd Has $47,000 Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Altshuler Shaham Ltd lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 35.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 453 shares of the construction company’s stock after selling 251 shares during the period. Altshuler Shaham Ltd’s holdings in PulteGroup were worth $47,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its stake in PulteGroup by 2.9% during the fourth quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock worth $371,000 after buying an additional 100 shares during the last quarter. Aprio Wealth Management LLC grew its stake in shares of PulteGroup by 3.1% during the fourth quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock valued at $370,000 after purchasing an additional 107 shares during the last quarter. KMG Fiduciary Partners LLC grew its stake in shares of PulteGroup by 4.1% during the fourth quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock valued at $320,000 after purchasing an additional 121 shares during the last quarter. DNB Asset Management AS grew its stake in shares of PulteGroup by 0.3% during the fourth quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock valued at $4,479,000 after purchasing an additional 123 shares during the last quarter. Finally, Cascade Investment Advisors Inc. grew its stake in shares of PulteGroup by 1.6% during the fourth quarter. Cascade Investment Advisors Inc. now owns 8,165 shares of the construction company’s stock valued at $843,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Down 1.0 %

PHM traded down $1.14 during mid-day trading on Wednesday, hitting $115.81. The stock had a trading volume of 1,293,398 shares, compared to its average volume of 1,804,943. PulteGroup, Inc. has a 1-year low of $65.16 and a 1-year high of $121.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day simple moving average is $112.90 and its 200-day simple moving average is $101.97. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56.

PulteGroup announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.69%. PulteGroup’s payout ratio is 6.41%.

Analyst Ratings Changes

Several research firms have recently commented on PHM. The Goldman Sachs Group increased their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Royal Bank of Canada raised their price objective on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 24th. Citigroup raised their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Finally, Jefferies Financial Group raised their price objective on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

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.