Bridgeway Capital Management LLC Has $1.89 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Bridgeway Capital Management LLC lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 10.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 17,350 shares of the construction company’s stock after selling 2,000 shares during the period. Bridgeway Capital Management LLC’s holdings in PulteGroup were worth $1,889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position 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 valued at $1,300,034,000 after buying an additional 683,592 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PulteGroup by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company’s stock worth $556,465,000 after acquiring an additional 64,947 shares during the last quarter. Norges Bank bought a new stake in shares of PulteGroup in the 4th quarter worth $427,562,000. Northern Trust Corp raised its holdings in shares of PulteGroup by 14.9% in the fourth quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company’s stock valued at $264,185,000 after purchasing an additional 315,148 shares during the last quarter. Finally, Amundi lifted its position in shares of PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after purchasing an additional 716,716 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock worth $2,256,367 in the last quarter. 0.76% of the stock is owned by company insiders.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $102.57 on Friday. The company has a 50-day moving average price of $101.13 and a two-hundred day moving average price of $112.23. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $20.56 billion, a PE ratio of 6.97, a P/E/G ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period in the previous year, the business earned $3.10 EPS. Equities analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its board has initiated a stock buyback plan on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. PulteGroup’s dividend payout ratio (DPR) is 6.21%.

Analysts Set New Price Targets

PHM has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada decreased their price target on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Bank of America reduced their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.69.

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.