New York State Teachers Retirement System Sells 9,063 Shares of PulteGroup, Inc. (NYSE:PHM)

New York State Teachers Retirement System trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.4% during the third quarter, HoldingsChannel reports. The firm owned 258,331 shares of the construction company’s stock after selling 9,063 shares during the quarter. New York State Teachers Retirement System’s holdings in PulteGroup were worth $37,078,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. WR Wealth Planners LLC raised its holdings 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 period. Fortitude Family Office LLC raised its holdings in shares of PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares during the period. LRI Investments LLC acquired a new stake in shares of PulteGroup during the first quarter worth $28,000. Rothschild Investment LLC acquired a new stake in shares of PulteGroup during the second quarter worth $31,000. Finally, Candriam S.C.A. acquired a new stake in shares of PulteGroup during the second quarter worth $33,000. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Oppenheimer lowered their price target on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Performance

Shares of PHM stock opened at $129.53 on Friday. The company has a market capitalization of $26.56 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.54 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50-day simple moving average of $137.45 and a 200 day simple moving average of $123.69. PulteGroup, Inc. has a 52 week low of $72.45 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. PulteGroup’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.90 EPS. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.98 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s payout ratio is 6.41%.

Insider Buying and Selling

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the business’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 completion of the sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

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.