PulteGroup, Inc. (NYSE:PHM) Stock Position Decreased by AQR Capital Management LLC

AQR Capital Management LLC trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 34.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,058,227 shares of the construction company’s stock after selling 1,093,380 shares during the period. AQR Capital Management LLC’s holdings in PulteGroup were worth $226,611,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Swedbank AB purchased a new stake in PulteGroup during the first quarter valued at about $68,985,000. Hsbc Holdings PLC raised its holdings in shares of PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after acquiring an additional 250,937 shares during the period. Pacer Advisors Inc. lifted its position in shares of PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares in the last quarter. Janney Montgomery Scott LLC boosted 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 worth $46,837,000 after purchasing an additional 219,609 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position 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 purchasing an additional 212,837 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PHM. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Oppenheimer upped their target price on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Finally, Evercore ISI increased their price objective on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.71.

PulteGroup Price Performance

NYSE PHM opened at $140.46 on Thursday. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $145.84. The company has a fifty day simple moving average of $129.87 and a 200 day simple moving average of $119.03. 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 market cap of $29.15 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.59 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) 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 period last year, the business posted $3.00 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The business also recently declared 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 0.57%. PulteGroup’s dividend payout ratio is 6.41%.

Insider Transactions at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the 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 owns 45,230 shares in the company, valued at $5,931,462.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The stock was 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 owns 89,323 shares in the company, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by company insiders.

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.