PulteGroup, Inc. (NYSE:PHM) Shares Sold by LSV Asset Management

LSV Asset Management lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,887,664 shares of the construction company’s stock after selling 196,672 shares during the quarter. PulteGroup comprises approximately 0.9% of LSV Asset Management’s investment portfolio, making the stock its 14th largest holding. LSV Asset Management owned 1.80% of PulteGroup worth $401,285,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Certuity LLC purchased a new position in shares of PulteGroup during the fourth quarter worth $245,000. Nordea Investment Management AB grew its position in PulteGroup by 4.0% during the 4th quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock worth $78,030,000 after purchasing an additional 28,833 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of PulteGroup by 24.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after buying an additional 5,257 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of PulteGroup by 248.6% in the 4th quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock valued at $19,738,000 after buying an additional 136,370 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of PulteGroup by 65.0% in the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock worth $16,660,000 after buying an additional 88,638 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

NYSE PHM traded up $2.79 during trading hours on Friday, hitting $116.64. 1,874,965 shares of the company’s stock traded hands, compared to its average volume of 1,797,015. 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 firm’s 50-day moving average is $112.28 and its 200-day moving average is $101.00. PulteGroup, Inc. has a 52-week low of $65.16 and a 52-week high of $121.07. The company has a market capitalization of $24.53 billion, a PE ratio of 9.34, a PEG ratio of 0.52 and a beta of 1.56.

PulteGroup declared that its board has authorized a stock repurchase plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on PHM. Raymond James reissued an “outperform” rating and issued a $135.00 price target (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group raised their price objective on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Barclays upped their target price on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Wedbush reissued a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price 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.