Plato Investment Management Ltd Sells 389 Shares of PulteGroup, Inc. (NYSE:PHM)

Plato Investment Management Ltd trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,945 shares of the construction company’s stock after selling 389 shares during the quarter. Plato Investment Management Ltd’s holdings in PulteGroup were worth $985,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PHM. Norges Bank bought a new position in PulteGroup during the fourth quarter worth $381,960,000. Swedbank AB acquired a new stake in shares of PulteGroup during the 1st quarter worth about $68,985,000. Allianz Asset Management GmbH boosted its holdings in shares of PulteGroup by 38.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after buying an additional 523,623 shares during the period. Janney Montgomery Scott LLC grew its stake in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after buying an additional 219,609 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after acquiring an additional 212,837 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the sale, 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 worth $15,814,039 in the last quarter. 0.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their price objective on PulteGroup from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada boosted their price target on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Oppenheimer increased their price objective on PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Raymond James upped their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

PulteGroup Stock Up 3.1 %

PHM stock opened at $139.54 on Monday. The firm has a 50-day moving average price of $125.73 and a 200-day moving average price of $117.51. PulteGroup, Inc. has a 12 month low of $68.80 and a 12 month high of $140.77. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $29.35 billion, a P/E ratio of 11.17, 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 for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the business posted $3.00 EPS. PulteGroup’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s dividend payout ratio 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.