ClariVest Asset Management LLC Sells 279 Shares of PulteGroup, Inc. (NYSE:PHM)

ClariVest Asset Management LLC trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,751 shares of the construction company’s stock after selling 279 shares during the quarter. ClariVest Asset Management LLC’s holdings in PulteGroup were worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of PHM. Putnam Investments LLC grew its holdings in shares of PulteGroup by 1.8% during the fourth quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after buying an additional 197,656 shares during the last quarter. Norges Bank purchased a new stake in PulteGroup during the 4th quarter valued at approximately $381,960,000. Allianz Asset Management GmbH raised its position in shares of PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after buying an additional 523,623 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of PulteGroup by 0.5% in the first quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock worth $172,971,000 after buying an additional 7,397 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of PulteGroup by 18.4% during the first quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after acquiring an additional 168,746 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock worth $15,814,039 in the last three months. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

Shares of PHM stock opened at $132.70 on Wednesday. The stock has a market capitalization of $27.91 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.53 and a beta of 1.62. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $136.47. The stock has a fifty day simple moving average of $123.89 and a two-hundred day simple moving average of $116.89.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.27 by $0.56. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. On average, analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s payout ratio is currently 6.41%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Bank of America lifted their target price on PulteGroup from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research note on Friday, August 16th. Raymond James lifted their price objective on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Six 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.14.

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.