PulteGroup, Inc. (NYSE:PHM) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its position in PulteGroup, Inc. (NYSE:PHM) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,071 shares of the construction company’s stock after selling 148 shares during the quarter. Meeder Asset Management Inc.’s holdings in PulteGroup were worth $1,015,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Avantax Advisory Services Inc. acquired a new stake in PulteGroup during the 1st quarter worth $358,000. UniSuper Management Pty Ltd raised its holdings in shares of PulteGroup by 377.1% in the first quarter. UniSuper Management Pty Ltd now owns 10,925 shares of the construction company’s stock valued at $1,318,000 after buying an additional 8,635 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of PulteGroup by 108.6% during the first quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock worth $1,981,000 after buying an additional 8,555 shares during the period. Lake Street Advisors Group LLC purchased a new position in shares of PulteGroup during the first quarter worth about $245,000. Finally, Pitcairn Co. grew its holdings in shares of PulteGroup by 12.7% during the first quarter. Pitcairn Co. now owns 7,177 shares of the construction company’s stock worth $866,000 after buying an additional 809 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI decreased their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Bank of America upped 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, BTIG Research lifted their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Price Performance

Shares of NYSE PHM opened at $128.51 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $137.23 and its 200 day moving average price is $125.57. PulteGroup, Inc. has a 52 week low of $86.59 and a 52 week high of $149.47. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 9.48, a PEG 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 for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the company posted $2.90 EPS. The company’s revenue was up 11.8% on a year-over-year basis. As a group, research analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. PulteGroup’s payout ratio is 5.90%.

Insider Activity

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’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 value of $9,573,873.81. Following the sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. This trade represents a 44.29 % decrease in their ownership of the stock. 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 company’s 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 directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

PulteGroup Company 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.