2,049 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,049 shares of the construction company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new stake in PulteGroup during the 1st quarter worth approximately $26,000. WR Wealth Planners LLC boosted its holdings in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares during the period. LRI Investments LLC purchased a new position in PulteGroup in the 1st quarter worth approximately $28,000. Rothschild Investment LLC purchased a new position in PulteGroup in the 2nd quarter worth approximately $31,000. Finally, Candriam S.C.A. purchased a new position in PulteGroup in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

PHM has been the subject of a number of analyst reports. Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Royal Bank of Canada upped their price target on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a report on Friday, August 16th. Barclays increased their target price on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their target price on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.71.

PulteGroup Stock Performance

Shares of PHM opened at $143.47 on Tuesday. The business’s fifty day moving average price is $131.28 and its 200 day moving average price is $119.87. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $145.84. The stock has a market capitalization of $29.77 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.58 and a beta of 1.62. 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 (NYSE:PHM) last issued its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping 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 firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period last year, the company earned $3.00 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced 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. This represents a $0.80 annualized dividend and a yield of 0.56%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s dividend payout ratio is presently 6.41%.

Insiders Place Their Bets

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s 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 transaction, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares in the company, valued at $20,729,065.70. The disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock valued at $15,814,039 over the last three months. Company insiders own 0.83% of the company’s stock.

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.