PulteGroup, Inc. (NYSE:PHM) Shares Purchased by Prudential PLC

Prudential PLC lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 131.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,976 shares of the construction company’s stock after purchasing an additional 2,260 shares during the period. Prudential PLC’s holdings in PulteGroup were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PHM. Benjamin Edwards Inc. acquired a new position in PulteGroup during the 1st quarter valued at approximately $26,000. WR Wealth Planners LLC lifted its holdings in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC purchased a new stake in PulteGroup in the 1st quarter worth approximately $28,000. Rothschild Investment LLC acquired a new stake in shares of PulteGroup during the 2nd quarter valued at about $31,000. Finally, Candriam S.C.A. bought a new stake in shares of PulteGroup during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PHM. Oppenheimer lifted their price target on PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Friday, August 16th. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. BTIG Research increased their price objective on shares of PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their target price on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $133.14.

PulteGroup Stock Up 3.1 %

Shares of NYSE PHM opened at $139.54 on Friday. The company has a market cap of $29.35 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.54 and a beta of 1.62. 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 50-day moving average price of $125.73 and a two-hundred day moving average price of $117.35. PulteGroup, Inc. has a 12 month low of $68.80 and a 12 month high of $140.77.

PulteGroup (NYSE:PHM) last issued 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 company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the business earned $3.00 earnings per share. PulteGroup’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

Insider Transactions at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup 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 transaction, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the sale, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated 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 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. Insiders have sold 119,000 shares of company stock valued at $15,814,039 over the last ninety days. 0.83% of the stock is owned by company insiders.

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.