Swiss National Bank Sells 32,800 Shares of PulteGroup, Inc. (NYSE:PHM)

Swiss National Bank lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 686,200 shares of the construction company’s stock after selling 32,800 shares during the quarter. Swiss National Bank’s holdings in PulteGroup were worth $70,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Baystate Wealth Management LLC increased its position in PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after purchasing an additional 319 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of PulteGroup in the 3rd quarter valued at about $36,000. Rakuten Securities Inc. acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $37,000. Lindbrook Capital LLC raised its stake in shares of PulteGroup by 335.6% during the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after buying an additional 292 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in PulteGroup by 3,463.6% in the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock valued at $40,000 after buying an additional 381 shares during the period. Institutional investors own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is owned by insiders.

PulteGroup Price Performance

PHM stock opened at $116.64 on Monday. The stock has a 50-day moving average price of $112.28 and a two-hundred day moving average price of $101.21. PulteGroup, Inc. has a 1 year low of $65.16 and a 1 year high of $121.07. The stock has a market cap of $24.53 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have commented on the stock. Oppenheimer lifted their target price on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Barclays raised their target price on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Jefferies Financial Group upped their price target on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Wedbush reissued a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.73.

PulteGroup 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.