Assetmark Inc. Sells 20,111 Shares of PulteGroup, Inc. (NYSE:PHM)

Assetmark Inc. lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 606,038 shares of the construction company's stock after selling 20,111 shares during the quarter. Assetmark Inc. owned about 0.30% of PulteGroup worth $86,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC raised its holdings in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after acquiring an additional 99 shares during the period. WR Wealth Planners LLC boosted its position in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock valued at $26,000 after buying an additional 82 shares in the last quarter. LRI Investments LLC acquired a new position in PulteGroup in the first quarter valued at about $28,000. Rothschild Investment LLC acquired a new position in PulteGroup in the second quarter valued at about $31,000. Finally, Candriam S.C.A. bought a new position in shares of PulteGroup in the second quarter worth about $33,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

Shares of PHM traded up $1.54 during trading hours on Friday, hitting $132.70. The company had a trading volume of 1,599,269 shares, compared to its average volume of 1,846,435. PulteGroup, Inc. has a 12 month low of $80.60 and a 12 month high of $149.47. The firm has a market cap of $27.21 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.53 and a beta of 1.63. The business has a fifty day moving average of $137.27 and a 200-day moving average of $124.69. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM - Get Free Report) last released 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. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. PulteGroup's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $2.90 earnings per share. Equities analysts anticipate that PulteGroup, Inc. will post 12.92 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Thomas J. Folliard sold 19,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Thomas J. Folliard sold 19,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares of the company's stock, valued at approximately $12,043,420.09. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

PHM has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of PulteGroup from $113.00 to $120.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 24th. Wedbush restated a "neutral" rating and set a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Oppenheimer reduced their price target on shares of PulteGroup from $168.00 to $165.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. UBS Group upped their price target on shares of 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 increased their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.00.

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.