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

SRN Advisors LLC lessened its position in shares of PulteGroup, Inc. (NYSE:PHM) by 4.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,481 shares of the construction company’s stock after selling 399 shares during the quarter. PulteGroup comprises 1.2% of SRN Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. SRN Advisors LLC’s holdings in PulteGroup were worth $1,361,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PHM. Swedbank AB purchased a new position in shares of PulteGroup during the first quarter worth about $68,985,000. Hsbc Holdings PLC raised its stake in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after acquiring an additional 250,937 shares during the last quarter. Pacer Advisors Inc. raised its stake in PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of PulteGroup by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock valued at $123,649,000 after purchasing an additional 223,841 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of PulteGroup by 130.2% in the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after purchasing an additional 219,609 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Citigroup lowered their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Barclays increased their price target on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Oppenheimer lowered their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Bank of America boosted their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Stock Down 2.5 %

PulteGroup stock opened at $132.47 on Friday. The firm has a market capitalization of $27.86 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.73. PulteGroup, Inc. has a fifty-two week low of $71.20 and a fifty-two week high of $149.47. The stock’s fifty day moving average is $137.14 and its two-hundred day moving average is $123.16.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period last year, the firm posted $2.90 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. PulteGroup’s dividend payout ratio is currently 6.41%.

Insider Activity at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock was 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 of the company’s stock, valued at $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is 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.