EFG Asset Management Americas Corp. Raises Position in PulteGroup, Inc. (NYSE:PHM)

EFG Asset Management Americas Corp. grew its position in PulteGroup, Inc. (NYSE:PHM) by 54.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,072 shares of the construction company’s stock after acquiring an additional 4,984 shares during the period. EFG Asset Management Americas Corp.’s holdings in PulteGroup were worth $1,549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. Blair William & Co. IL lifted its holdings in shares of PulteGroup by 1.9% in the first quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock valued at $3,289,000 after purchasing an additional 516 shares in the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of PulteGroup by 166.6% in the first quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock valued at $1,586,000 after purchasing an additional 8,215 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of PulteGroup by 6.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock valued at $35,890,000 after purchasing an additional 17,369 shares in the last quarter. Personal CFO Solutions LLC purchased a new stake in shares of PulteGroup in the fourth quarter valued at about $719,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of PulteGroup by 4.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company’s stock valued at $74,913,000 after purchasing an additional 28,774 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 1.5 %

PHM traded up $1.93 during trading on Friday, hitting $130.20. 2,570,698 shares of the company’s stock were exchanged, compared to its average volume of 1,844,496. 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 1 year low of $68.80 and a 1 year high of $136.47. The stock has a 50 day moving average price of $122.82 and a 200 day moving average price of $116.33. The firm has a market cap of $27.39 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 0.54 and a beta of 1.62.

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

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.61%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Insider Activity

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

Analyst Ratings Changes

PHM has been the subject of a number of analyst reports. 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. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Friday, August 16th. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Barclays boosted their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI boosted their price objective on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.14.

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.