Great Lakes Advisors LLC Sells 125,440 Shares of PulteGroup, Inc. (NYSE:PHM)

Great Lakes Advisors LLC lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 41.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,454 shares of the construction company’s stock after selling 125,440 shares during the quarter. Great Lakes Advisors LLC owned 0.09% of PulteGroup worth $19,758,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of PulteGroup during the 4th quarter valued at about $381,960,000. Swedbank AB bought a new stake in PulteGroup during the first quarter valued at approximately $68,985,000. Allianz Asset Management GmbH increased its holdings in PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after buying an additional 523,623 shares during the last quarter. Janney Montgomery Scott LLC raised its position in PulteGroup by 130.2% in the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after acquiring an additional 219,609 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of PulteGroup by 40.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after acquiring an additional 212,837 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BTIG Research raised their price objective on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Citigroup reduced their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Finally, Evercore ISI lifted their price target on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.14.

Insider Activity 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 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 directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup 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 completion of the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on 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 in the company, valued at approximately $5,931,462.20. 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. 0.83% of the stock is owned by corporate insiders.

PulteGroup Stock Up 1.5 %

PHM opened at $130.20 on Friday. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $136.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $122.82 and a two-hundred day simple moving average of $116.42. The company has a market capitalization of $27.39 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.54 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 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 analyst estimates of $4.49 billion. During the same period in the prior year, the company earned $3.00 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.61%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s dividend payout ratio is presently 6.41%.

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.