1832 Asset Management L.P. Sells 1,638 Shares of PulteGroup, Inc. (NYSE:PHM)

1832 Asset Management L.P. trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 29,443 shares of the construction company’s stock after selling 1,638 shares during the quarter. 1832 Asset Management L.P.’s holdings in PulteGroup were worth $3,242,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Benjamin Edwards Inc. purchased a new stake in shares of PulteGroup during the first quarter valued at approximately $26,000. WR Wealth Planners LLC boosted its position in PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the period. LRI Investments LLC purchased a new stake in PulteGroup during the 1st quarter valued at $28,000. Rothschild Investment LLC bought a new stake in PulteGroup in the 2nd quarter worth $31,000. Finally, Candriam S.C.A. purchased a new position in shares of PulteGroup in the second quarter valued at about $33,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PulteGroup

In related news, 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 of the company’s stock, valued at $5,931,462.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on 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 transaction, 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 sold 119,000 shares of company stock worth $15,814,039 over the last quarter. 0.83% of the stock is currently owned by insiders.

PulteGroup Stock Performance

Shares of PHM stock opened at $143.26 on Wednesday. The company has a market capitalization of $29.73 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 0.59 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84. The company’s 50-day moving average is $129.87 and its 200 day moving average is $119.03.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s payout ratio is 6.41%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PHM shares. Evercore ISI increased their target price on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. BTIG Research lifted their price objective on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” 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. Raymond James lifted their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Oppenheimer upped their price objective on shares of PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.71.

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.