DoubleLine ETF Adviser LP Purchases New Stake in PulteGroup, Inc. (NYSE:PHM)

DoubleLine ETF Adviser LP purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the second quarter, HoldingsChannel.com reports. The firm purchased 5,847 shares of the construction company’s stock, valued at approximately $644,000.

A number of other institutional investors have also recently modified their holdings of PHM. Swedbank AB purchased a new stake in shares of PulteGroup in the first quarter valued at approximately $68,985,000. Hsbc Holdings PLC boosted its stake in shares of PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after buying an additional 250,937 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after buying an additional 235,826 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of 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 boosted its stake in shares of PulteGroup by 40.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after buying an additional 212,837 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Barclays boosted their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. BTIG Research boosted their target price on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their target price on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.71.

PulteGroup Stock Down 0.3 %

Shares of NYSE:PHM opened at $139.97 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $145.84. The stock’s fifty day simple moving average is $130.25 and its 200-day simple moving average is $119.18. The company has a market capitalization of $29.05 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.59 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, beating the consensus estimate of $3.27 by $0.56. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 earnings per share. As a group, equities research analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.57%. PulteGroup’s payout ratio is currently 6.41%.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s 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 transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by insiders.

About PulteGroup

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.