MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,345 shares of the construction company’s stock, valued at approximately $193,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Benjamin Edwards Inc. purchased a new stake in shares of PulteGroup during the first quarter valued at $26,000. WR Wealth Planners LLC grew its stake in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. LRI Investments LLC purchased a new position in shares of PulteGroup during the first quarter worth approximately $28,000. Rothschild Investment LLC bought a new stake in shares of PulteGroup during the second quarter valued at approximately $31,000. Finally, Candriam S.C.A. purchased a new stake in shares of PulteGroup in the second quarter valued at approximately $33,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Evercore ISI lifted their target price on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Oppenheimer upped their price target on shares of PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their target price on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Bank of America boosted their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.14.
PulteGroup Stock Performance
Shares of NYSE PHM opened at $142.54 on Tuesday. The company has a 50 day simple moving average of $133.84 and a two-hundred day simple moving average of $121.71. The stock has a market cap of $29.98 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.57 and a beta of 1.62. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a 12 month low of $68.80 and a 12 month high of $145.84.
PulteGroup (NYSE:PHM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the firm earned $3.00 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current 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 given a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.56%. PulteGroup’s dividend payout ratio is presently 6.41%.
Insider Transactions at PulteGroup
In related news, 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 transaction of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. 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 this hyperlink. In other news, 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 transaction 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. This trade represents a 0.00 % decrease in their position. 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 the business’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 sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock valued at $15,814,039 in the last 90 days. 0.83% of the stock is currently owned by company insiders.
About PulteGroup
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.
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