KBC Group NV Increases Stake in PulteGroup, Inc. (NYSE:PHM)

KBC Group NV lifted its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 1,020.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 435,925 shares of the construction company's stock after acquiring an additional 397,003 shares during the period. KBC Group NV owned 0.21% of PulteGroup worth $62,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PHM. Swedbank AB acquired a new stake in PulteGroup during the first quarter valued at approximately $68,985,000. Hsbc Holdings PLC increased 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 buying an additional 250,937 shares during the period. Pacer Advisors Inc. increased its stake 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 purchasing an additional 235,826 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in PulteGroup by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company's stock valued at $123,649,000 after buying an additional 223,841 shares during the last quarter. Finally, Homestead Advisers Corp grew its stake in PulteGroup by 89.8% in the 1st quarter. Homestead Advisers Corp now owns 375,500 shares of the construction company's stock valued at $45,122,000 after buying an additional 177,700 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 45,230 shares of the company's stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 89,323 shares of the company's stock, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the firm's stock in a transaction 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 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 disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PHM has been the subject of a number of research reports. Royal Bank of Canada increased their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a "sector perform" rating in a report on Wednesday, July 24th. Barclays increased their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. BTIG Research increased their price target on shares of 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 objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.00.

PulteGroup Price Performance

PHM traded up $2.93 on Thursday, hitting $130.41. 694,806 shares of the stock were exchanged, compared to its average volume of 1,837,999. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47. The business has a 50-day moving average of $137.29 and a two-hundred day moving average of $125.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM - Get Free Report) last posted its 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 firm had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.90 earnings per share. Sell-side analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.67%. This is an increase from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's dividend payout ratio is currently 5.90%.

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.