PulteGroup, Inc. (NYSE:PHM) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 13.9% in the second quarter, Holdings Channel.com reports. The firm owned 3,226 shares of the construction company’s stock after selling 521 shares during the period. Parallel Advisors LLC’s holdings in PulteGroup were worth $355,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PHM. Swedbank AB purchased a new stake in PulteGroup in the 1st quarter valued at about $68,985,000. Allianz Asset Management GmbH grew its position 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 acquiring an additional 523,623 shares during the period. Janney Montgomery Scott LLC grew its position in PulteGroup by 130.2% during the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after acquiring an additional 219,609 shares during the period. Allspring Global Investments Holdings LLC increased its position in 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 purchasing an additional 212,837 shares in the last quarter. Finally, Homestead Advisers Corp purchased a new stake in PulteGroup during the fourth quarter worth approximately $20,417,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Up 0.4 %

Shares of NYSE:PHM opened at $140.99 on Thursday. The firm has a market cap of $29.66 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. The company has a fifty day simple moving average of $127.82 and a 200 day simple moving average of $118.10. The company has a current ratio of 0.76, a quick 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 $144.18.

PulteGroup (NYSE:PHM) last issued its earnings results 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. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.00 EPS. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on PHM. Oppenheimer raised their target price on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Friday, August 16th. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, BTIG Research upped their price target on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

Insider Transactions at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s 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 transaction, the chief financial officer now directly owns 160,330 shares in the company, valued at $20,729,065.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction dated 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 owns 160,330 shares in the company, valued at approximately $20,729,065.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by corporate insiders.

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.