PulteGroup, Inc. (NYSE:PHM) Stake Raised by Custom Index Systems LLC

Custom Index Systems LLC increased its holdings in PulteGroup, Inc. (NYSE:PHM) by 42.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,449 shares of the construction company’s stock after buying an additional 1,025 shares during the quarter. Custom Index Systems LLC’s holdings in PulteGroup were worth $495,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PHM. Swedbank AB bought a new stake in shares of PulteGroup during the first quarter valued at about $68,985,000. Hsbc Holdings PLC increased 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 buying an additional 250,937 shares during the period. Pacer Advisors Inc. raised its position in shares of PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after buying an additional 235,826 shares in the last quarter. Allspring Global Investments Holdings LLC lifted 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 worth $123,649,000 after acquiring an additional 223,841 shares during the period. Finally, Janney Montgomery Scott LLC boosted 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 acquiring an additional 219,609 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. BTIG Research raised their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Raymond James lifted their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Buying and Selling at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were 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 in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the business’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 value of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by company insiders.

PulteGroup Stock Down 2.5 %

Shares of PHM traded down $3.37 during mid-day trading on Friday, reaching $132.47. The company’s stock had a trading volume of 1,655,389 shares, compared to its average volume of 1,837,436. The company has a market cap 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 business has a fifty day moving average of $137.14 and a 200 day moving average of $123.21. The company has a quick ratio of 0.76, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 1 year low of $71.20 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the business earned $2.90 EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts forecast that PulteGroup, Inc. will post 12.9 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. Investors of record on Tuesday, September 17th were given 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 of this dividend was Tuesday, September 17th. PulteGroup’s payout ratio is presently 6.41%.

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.