Intech Investment Management LLC Sells 4,700 Shares of PulteGroup, Inc. (NYSE:PHM)

Intech Investment Management LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 268,645 shares of the construction company’s stock after selling 4,700 shares during the quarter. Intech Investment Management LLC owned approximately 0.13% of PulteGroup worth $38,559,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. Bessemer Group Inc. grew its stake in shares of PulteGroup by 108.6% in the first quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock valued at $1,981,000 after buying an additional 8,555 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in shares of PulteGroup in the first quarter valued at $245,000. Shell Asset Management Co. grew its stake in shares of PulteGroup by 135.5% in the first quarter. Shell Asset Management Co. now owns 8,932 shares of the construction company’s stock valued at $1,077,000 after buying an additional 5,140 shares in the last quarter. CreativeOne Wealth LLC grew its stake in shares of PulteGroup by 5.3% in the first quarter. CreativeOne Wealth LLC now owns 4,449 shares of the construction company’s stock valued at $536,000 after buying an additional 222 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of PulteGroup in the first quarter valued at $246,000. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on PHM. Evercore ISI cut 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. BTIG Research raised their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America raised their price target on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. UBS Group raised their price target on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Stock Down 0.4 %

Shares of NYSE PHM opened at $128.06 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup, Inc. has a 52 week low of $86.59 and a 52 week high of $149.47. The stock has a market capitalization of $26.26 billion, a P/E ratio of 9.44, a PEG ratio of 0.52 and a beta of 1.63. The stock’s fifty day moving average is $137.14 and its 200 day moving average is $125.65.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter last year, the business earned $2.90 earnings per share. PulteGroup’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 5.90%.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 44.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.83% 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.