Bokf Na Decreases Stake in PulteGroup, Inc. (NYSE:PHM)

Bokf Na trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 22.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,553 shares of the construction company’s stock after selling 444 shares during the period. Bokf Na’s holdings in PulteGroup were worth $171,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in PulteGroup in the fourth quarter worth approximately $381,960,000. Swedbank AB acquired a new position in shares of PulteGroup during the first quarter worth $68,985,000. Allianz Asset Management GmbH raised its stake in PulteGroup by 38.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after buying an additional 523,623 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in PulteGroup by 130.2% in the first 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in PulteGroup by 40.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after buying an additional 212,837 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 completion of the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 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 Securities & Exchange Commission, which is available at this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the 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 in the company, valued at $12,043,420.09. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock valued at $15,814,039 in the last ninety days. 0.83% of the stock is currently owned by company insiders.

PulteGroup Price Performance

Shares of NYSE PHM opened at $140.50 on Wednesday. The stock has a fifty day moving average price of $127.14 and a 200 day moving average price of $117.93. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $141.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $29.16 billion, a PE ratio of 11.25, a P/E/G ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 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 analysts’ expectations of $4.49 billion. During the same quarter last year, the business earned $3.00 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts forecast that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The firm 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 $0.20 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PHM shares. Oppenheimer increased their price objective on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Citigroup dropped their price target on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. BTIG Research upped their target price 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, Barclays boosted their price target 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. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.14.

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.