National Pension Service Sells 87,599 Shares of PulteGroup, Inc. (NYSE:PHM)

National Pension Service reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 16.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 437,619 shares of the construction company’s stock after selling 87,599 shares during the period. National Pension Service’s holdings in PulteGroup were worth $62,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PHM. Grove Bank & Trust boosted its position in PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after buying an additional 72 shares in the last quarter. WR Wealth Planners LLC lifted its stake in shares of 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 acquiring an additional 82 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in shares of PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners grew its position in PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after acquiring an additional 83 shares during the last quarter. Finally, Lebenthal Global Advisors LLC increased its holdings in PulteGroup by 3.9% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after purchasing an additional 87 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PHM. Evercore ISI reduced their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Raymond James boosted their target price on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America raised their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada lifted their price target on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company increased their price objective on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Price Performance

Shares of PHM opened at $133.30 on Wednesday. The business’s fifty day moving average is $137.27 and its 200 day moving average is $124.43. PulteGroup, Inc. has a 12-month low of $80.60 and a 12-month high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a market cap of $27.34 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $2.90 earnings per share. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.92 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 5.90%.

Insider Transactions at PulteGroup

In related news, 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 transaction, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the 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 completion of the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction 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 transaction, the director now directly 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 disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

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.