Rhumbline Advisers Sells 41,619 Shares of PulteGroup, Inc. (NYSE:PHM)

Rhumbline Advisers trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 9.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 420,214 shares of the construction company’s stock after selling 41,619 shares during the period. Rhumbline Advisers’ holdings in PulteGroup were worth $46,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Knuff & Co LLC raised its position in shares of PulteGroup by 264.4% during the 2nd quarter. Knuff & Co LLC now owns 2,915 shares of the construction company’s stock valued at $321,000 after purchasing an additional 2,115 shares during the period. Ritholtz Wealth Management increased its holdings in PulteGroup by 50.5% in the 2nd quarter. Ritholtz Wealth Management now owns 51,111 shares of the construction company’s stock valued at $5,627,000 after acquiring an additional 17,152 shares during the last quarter. Hanseatic Management Services Inc. increased its holdings in PulteGroup by 2.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 6,427 shares of the construction company’s stock valued at $708,000 after acquiring an additional 145 shares during the last quarter. Elk River Wealth Management LLC increased its holdings in PulteGroup by 1.9% in the 2nd quarter. Elk River Wealth Management LLC now owns 83,262 shares of the construction company’s stock valued at $9,184,000 after acquiring an additional 1,527 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in PulteGroup by 28.5% in the 2nd quarter. Aptus Capital Advisors LLC now owns 92,648 shares of the construction company’s stock valued at $10,201,000 after acquiring an additional 20,555 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the business’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 directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The transaction was disclosed in a filing with the SEC, which is available through this link. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,931,462.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $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 three months. Company insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $128.27 on Friday. PulteGroup, Inc. has a 12 month low of $68.80 and a 12 month high of $136.47. 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 company has a 50-day moving average price of $122.41 and a 200 day moving average price of $116.13. The stock has a market cap of $26.98 billion, a PE ratio of 10.27, a P/E/G ratio of 0.54 and a beta of 1.62.

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

PulteGroup Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Bank of America lifted their price target on shares of PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Citigroup reduced their price target on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada lifted their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Finally, Barclays lifted their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.