PulteGroup, Inc. (NYSE:PHM) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 57.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,629 shares of the construction company’s stock after purchasing an additional 14,887 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PulteGroup were worth $4,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHM. Putnam Investments LLC raised its stake in PulteGroup by 1.8% during the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after purchasing an additional 197,656 shares during the period. Pacer Advisors Inc. lifted its stake in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after acquiring an additional 235,826 shares in the last quarter. Hsbc Holdings PLC boosted its position in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after acquiring an additional 250,937 shares during the period. Los Angeles Capital Management LLC grew its stake in PulteGroup by 0.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock valued at $172,971,000 after acquiring an additional 7,397 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in PulteGroup by 18.4% during the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock valued at $130,986,000 after acquiring an additional 168,746 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Insider Activity at PulteGroup

In other news, 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. 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 over the last quarter. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PHM shares. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research report on Friday, August 16th. Citigroup lowered their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Oppenheimer raised their price target on PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, BTIG Research raised their price objective on shares of PulteGroup from $133.00 to $139.00 and gave the company a “buy” 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.71.

PulteGroup Trading Down 0.3 %

PHM stock opened at $139.97 on Friday. The business has a fifty day moving average price of $130.25 and a 200 day moving average price of $119.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $145.84. The stock has a market capitalization of $29.05 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 0.59 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business 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 business posted $3.00 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

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.