PulteGroup, Inc. (NYSE:PHM) Shares Sold by MQS Management LLC

MQS Management LLC cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 70.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,857 shares of the construction company’s stock after selling 6,947 shares during the quarter. MQS Management LLC’s holdings in PulteGroup were worth $315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. Benjamin Edwards Inc. acquired a new stake in PulteGroup in the first quarter valued at $26,000. WR Wealth Planners LLC boosted its position in 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 purchased a new stake in shares of PulteGroup in the first quarter valued at $28,000. Rothschild Investment LLC purchased a new stake in PulteGroup in the 2nd quarter valued at about $31,000. Finally, Candriam S.C.A. acquired a new position in PulteGroup during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred 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 transaction, 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 sold 119,000 shares of company stock valued at $15,814,039 over the last quarter. Insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $141.86 on Friday. The business’s 50-day moving average price is $128.95 and its two-hundred day moving average price is $118.50. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84. The company has a market capitalization of $29.44 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 earnings per share. Analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.56%. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PHM shares. Raymond James raised their price objective on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI upped their price objective on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Bank of America raised their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. BTIG Research boosted their price objective on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Barclays lifted their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $134.71.

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.