PulteGroup, Inc. (NYSE:PHM) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 13.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,098 shares of the construction company's stock after selling 5,531 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in PulteGroup were worth $5,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. FMR LLC boosted its holdings in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company's stock worth $1,297,630,000 after buying an additional 4,571,757 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in PulteGroup during the third quarter worth about $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company's stock worth $74,917,000 after buying an additional 407,764 shares in the last quarter. KBC Group NV boosted its holdings in PulteGroup by 1,020.0% during the third quarter. KBC Group NV now owns 435,925 shares of the construction company's stock worth $62,568,000 after buying an additional 397,003 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company's stock worth $168,254,000 after buying an additional 250,937 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.9 %

Shares of PulteGroup stock traded down $1.16 during trading hours on Tuesday, hitting $133.98. The company's stock had a trading volume of 880,784 shares, compared to its average volume of 1,821,212. The business has a fifty day moving average of $135.85 and a 200 day moving average of $126.77. 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, Inc. has a 1-year low of $89.81 and a 1-year high of $149.47. The company has a market capitalization of $27.48 billion, a PE ratio of 9.88, a P/E/G ratio of 0.55 and a beta of 1.62.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period last year, the firm posted $2.90 EPS. The company's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Tuesday, December 17th. This is a boost from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's dividend payout ratio (DPR) is 5.90%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PHM. UBS Group boosted their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a report 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. Bank of America upped their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Finally, BTIG Research upped 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. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.00.

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.