Baird Financial Group Inc. Has $3.39 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Baird Financial Group Inc. increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,170 shares of the construction company’s stock after purchasing an additional 293 shares during the period. Baird Financial Group Inc.’s holdings in PulteGroup were worth $3,394,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PHM. Norges Bank acquired a new position in shares of PulteGroup in the 4th quarter valued at $427,562,000. Amundi raised its position in PulteGroup by 77.9% in the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after purchasing an additional 716,716 shares in the last quarter. Franklin Resources Inc. lifted its stake in PulteGroup by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock worth $1,300,034,000 after purchasing an additional 683,592 shares during the period. Bridgewater Associates LP boosted its holdings in PulteGroup by 118.8% during the fourth quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company’s stock valued at $85,332,000 after purchasing an additional 425,492 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of PulteGroup by 45.6% in the 4th quarter. First Trust Advisors LP now owns 1,065,190 shares of the construction company’s stock valued at $115,999,000 after purchasing an additional 333,361 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.8 %

Shares of NYSE PHM opened at $102.57 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The company’s fifty day moving average is $101.13 and its 200-day moving average is $112.09. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 0.29 and a beta of 1.37.

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

PulteGroup declared that its board has authorized a share repurchase plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of PulteGroup 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays decreased their price target on PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Bank of America lowered their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Royal Bank of Canada cut their price target on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their target price on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup presently has a consensus 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.