Tredje AP fonden Reduces Stock Position in PulteGroup, Inc. (NYSE:PHM)

Tredje AP fonden reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 22.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 413,369 shares of the construction company’s stock after selling 121,658 shares during the quarter. Tredje AP fonden’s holdings in PulteGroup were worth $45,512,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Benjamin Edwards Inc. purchased a new stake in shares of PulteGroup during the 1st quarter worth approximately $26,000. WR Wealth Planners LLC lifted its holdings in shares of PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. LRI Investments LLC acquired a new position in PulteGroup during the first quarter worth approximately $28,000. Rothschild Investment LLC acquired a new stake in shares of PulteGroup in the second quarter valued at approximately $31,000. Finally, Candriam S.C.A. acquired a new position in shares of PulteGroup in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays lifted their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Citigroup cut their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Evercore ISI raised their target price on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Raymond James increased their target price on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

Insiders Place Their Bets

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’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 completion of the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The disclosure for this sale can be found here. In the last three months, insiders sold 119,000 shares of company stock valued at $15,814,039. Company insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $140.50 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s 50 day moving average price is $127.14 and its 200 day moving average price is $117.93. The firm has a market cap of $29.16 billion, a P/E ratio of 11.25, a PEG ratio of 0.55 and a beta of 1.62. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $141.43.

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

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

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.