Allspring Global Investments Holdings LLC Buys 223,841 Shares of PulteGroup, Inc. (NYSE:PHM)

Allspring Global Investments Holdings LLC lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 35.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 861,487 shares of the construction company’s stock after acquiring an additional 223,841 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PulteGroup were worth $123,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. WR Wealth Planners LLC raised its position in shares of PulteGroup by 54.7% during the second 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 last quarter. LRI Investments LLC acquired a new stake in PulteGroup during the first quarter worth approximately $28,000. Rothschild Investment LLC acquired a new stake in PulteGroup during the second quarter worth approximately $31,000. Candriam S.C.A. acquired a new stake in PulteGroup during the second quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after purchasing an additional 286 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PHM shares. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. raised their target price on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. Finally, Raymond James raised their target price on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six 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, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $141.14.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This trade 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 90 days. Insiders own 0.75% of the company’s stock.

PulteGroup Stock Up 2.1 %

Shares of NYSE:PHM opened at $149.04 on Monday. The stock has a market cap of $30.93 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.58 and a beta of 1.62. 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 12-month low of $68.80 and a 12-month high of $149.32. The business’s 50 day moving average is $135.79 and its 200 day moving average is $122.54.

PulteGroup (NYSE:PHM) last announced its 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. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.00 earnings per share. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.54%. PulteGroup’s payout ratio is 6.10%.

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.