BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 131,382 Shares of PulteGroup, Inc. (NYSE:PHM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 69.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,108 shares of the construction company’s stock after selling 131,382 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in PulteGroup were worth $8,340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB acquired a new position in PulteGroup during the 1st quarter worth approximately $68,985,000. KBC Group NV raised its position in shares of PulteGroup by 1,020.0% during the third quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after purchasing an additional 397,003 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares in the last quarter. Pacer Advisors Inc. grew its position in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in PulteGroup by 35.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock valued at $123,649,000 after purchasing an additional 223,841 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In other PulteGroup 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 transaction, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 29.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

PulteGroup stock opened at $129.76 on Monday. The firm has a market capitalization of $26.61 billion, a P/E ratio of 9.57, a PEG ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The business has a fifty day moving average price of $136.74 and a 200-day moving average price of $125.90.

PulteGroup (NYSE:PHM) last issued 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. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the company earned $2.90 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is 5.90%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. BTIG Research boosted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Finally, Bank of America boosted their target price 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. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.00.

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.