Hendershot Investments Inc. Lowers Stock Position in PulteGroup, Inc. (NYSE:PHM)

Hendershot Investments Inc. decreased its holdings in PulteGroup, Inc. (NYSE:PHM) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,840 shares of the construction company’s stock after selling 739 shares during the quarter. Hendershot Investments Inc.’s holdings in PulteGroup were worth $4,386,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of PulteGroup during the first quarter worth about $26,000. Benjamin Edwards Inc. acquired a new position in shares of PulteGroup in the first quarter valued at approximately $26,000. WR Wealth Planners LLC raised its stake in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of PulteGroup during the first quarter worth $28,000. Finally, Rothschild Investment LLC acquired a new stake in shares of PulteGroup during the second quarter worth $31,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity

In related news, Director Thomas J. Folliard sold 19,000 shares of the business’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 value of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the 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 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 legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock valued at $15,814,039 in the last 90 days. 0.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PHM. Royal Bank of Canada raised their target price 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. Raymond James boosted their target price on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a report on Friday, August 16th. Finally, Barclays boosted their target price on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.14.

PulteGroup Stock Performance

NYSE PHM opened at $128.27 on Friday. The stock has a market cap of $26.98 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 0.54 and a beta of 1.62. The business has a fifty day moving average of $122.41 and a 200-day moving average of $116.13. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $136.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion for 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 EPS. As a group, analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.62%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

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.