Investment Management Corp of Ontario Sells 47,660 Shares of PulteGroup, Inc. (NYSE:PHM)

Investment Management Corp of Ontario trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 87.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,951 shares of the construction company's stock after selling 47,660 shares during the quarter. Investment Management Corp of Ontario's holdings in PulteGroup were worth $998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the company. FMR LLC raised its stake in shares of PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company's stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the period. Greenhaven Associates Inc. raised its stake in shares of PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company's stock valued at $802,789,000 after buying an additional 16,871 shares during the period. Pacer Advisors Inc. lifted 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 valued at $326,864,000 after buying an additional 235,826 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in PulteGroup by 7.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company's stock worth $267,546,000 after acquiring an additional 135,391 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company's stock valued at $168,254,000 after acquiring an additional 250,937 shares during the period. 89.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PHM has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Wedbush reaffirmed a "neutral" rating and issued a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. Evercore ISI reduced their target price on PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. UBS Group raised their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Wolfe Research cut shares of PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Six investment 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, the company has a consensus rating of "Moderate Buy" and an average price target of $145.00.

PulteGroup Price Performance

NYSE PHM traded down $1.12 on Friday, reaching $126.75. 1,696,835 shares of the company's stock traded hands, compared to its average volume of 1,819,965. The stock has a market cap of $25.99 billion, a PE ratio of 9.35, a P/E/G ratio of 0.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a 12 month low of $92.49 and a 12 month high of $149.47. The stock has a 50-day simple moving average of $135.06 and a 200 day simple moving average of $126.85.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $4.27 billion. During the same period in the previous year, the firm posted $2.90 earnings per share. The firm's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

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

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.