Private Advisory Group LLC Lowers Holdings in PulteGroup, Inc. (NYSE:PHM)

Private Advisory Group LLC trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 11.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,684 shares of the construction company’s stock after selling 950 shares during the period. Private Advisory Group LLC’s holdings in PulteGroup were worth $1,103,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of PulteGroup during the 1st quarter worth $68,985,000. Hsbc Holdings PLC increased its position in shares of PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after buying an additional 250,937 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after buying an additional 235,826 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of PulteGroup by 130.2% in the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after purchasing an additional 219,609 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of PulteGroup by 40.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after purchasing an additional 212,837 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Evercore ISI upped their target price on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Royal Bank of Canada boosted their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Oppenheimer increased their target price on PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Citigroup cut their price target on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $141.14.

Insiders Place Their Bets

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the 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 sale, the chief financial officer now directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have 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 $138.65 on Friday. The company has a market capitalization of $28.77 billion, a PE ratio of 10.58, a P/E/G ratio of 0.57 and a beta of 1.62. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $133.04 and its two-hundred day moving average is $121.21. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $145.84.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.56. The company 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 firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $3.00 EPS. Analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.58%. PulteGroup’s payout ratio is 6.10%.

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.