Park Avenue Securities LLC Sells 3,021 Shares of PulteGroup, Inc. (NYSE:PHM)

Park Avenue Securities LLC trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 8.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 32,402 shares of the construction company’s stock after selling 3,021 shares during the period. Park Avenue Securities LLC’s holdings in PulteGroup were worth $4,651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Benjamin Edwards Inc. bought a new position in PulteGroup during the first quarter worth $26,000. WR Wealth Planners LLC grew its stake in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. LRI Investments LLC bought a new position in PulteGroup in the 1st quarter valued at about $28,000. Rothschild Investment LLC bought a new position in PulteGroup in the 2nd quarter valued at about $31,000. Finally, Candriam S.C.A. bought a new stake in shares of PulteGroup during the second quarter worth approximately $33,000. 89.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The stock was 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 owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is currently owned by company insiders.

PulteGroup Price Performance

Shares of PHM traded down $3.53 during trading hours on Friday, reaching $139.44. The stock had a trading volume of 1,457,686 shares, compared to its average volume of 1,851,521. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. PulteGroup, Inc. has a 12 month low of $68.80 and a 12 month high of $145.84. The stock has a market capitalization of $28.94 billion, a PE ratio of 11.16, a PEG ratio of 0.58 and a beta of 1.62. The company’s 50-day moving average is $132.62 and its two-hundred day moving average is $120.64.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.27 by $0.56. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $3.00 earnings per share. Research analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s payout ratio is currently 6.41%.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of recent research reports. Evercore ISI increased their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Citigroup dropped their price target on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. 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. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research report on Friday, August 16th. Finally, Oppenheimer upped their price objective on shares of PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.93.

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.