Teachers Retirement System of The State of Kentucky Trims Position in PulteGroup, Inc. (NYSE:PHM)

Teachers Retirement System of The State of Kentucky cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 2.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,363 shares of the construction company’s stock after selling 477 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in PulteGroup were worth $1,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PHM. Stifel Financial Corp lifted its stake in PulteGroup by 19.0% in the 4th quarter. Stifel Financial Corp now owns 62,706 shares of the construction company’s stock worth $6,473,000 after purchasing an additional 10,014 shares in the last quarter. KBC Group NV raised its position in shares of PulteGroup by 70.7% in the fourth quarter. KBC Group NV now owns 36,425 shares of the construction company’s stock worth $3,760,000 after buying an additional 15,084 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in PulteGroup by 2.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 96,709 shares of the construction company’s stock valued at $9,982,000 after buying an additional 2,022 shares during the period. Tower Research Capital LLC TRC grew its position in PulteGroup by 478.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 30,287 shares of the construction company’s stock worth $3,126,000 after buying an additional 25,048 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in PulteGroup by 161.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 27,882 shares of the construction company’s stock worth $2,878,000 after acquiring an additional 17,229 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PHM has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Raymond James increased their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Citigroup dropped their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $135.93.

Insider Buying and Selling at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated 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 owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, 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 transaction of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock valued at $15,814,039 over the last ninety days. 0.83% of the stock is currently owned by company insiders.

PulteGroup Price Performance

NYSE PHM opened at $139.44 on Friday. The business’s fifty day moving average is $132.62 and its 200 day moving average is $120.64. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $145.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $28.94 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 0.58 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data 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 company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the previous year, the company posted $3.00 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. PulteGroup’s payout ratio is presently 6.41%.

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.