Gateway Investment Advisers LLC Has $1.02 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Gateway Investment Advisers LLC lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,094 shares of the construction company’s stock after selling 79 shares during the period. Gateway Investment Advisers LLC’s holdings in PulteGroup were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new stake in PulteGroup in the 1st quarter valued at $26,000. WR Wealth Planners LLC lifted its holdings in shares of PulteGroup by 54.7% during the 2nd 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 period. LRI Investments LLC acquired a new position in PulteGroup during the 1st quarter worth approximately $28,000. Rothschild Investment LLC acquired a new position in PulteGroup during the 2nd quarter worth approximately $31,000. Finally, Candriam S.C.A. acquired a new position in PulteGroup during the 2nd quarter worth approximately $33,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

Shares of PHM stock opened at $139.20 on Monday. The company’s 50-day moving average is $133.46 and its 200 day moving average is $121.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.00 EPS. Sell-side analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

Wall Street Analyst Weigh In

PHM has been the topic of several research analyst reports. Citigroup cut their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. increased their target price on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Bank of America lifted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Raymond James boosted their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.14.

Insider Activity

In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 160,330 shares in the company, 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 SEC, which is available through the SEC website. In other news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is currently owned by company insiders.

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.