Mount Lucas Management LP Has $2.34 Million Position in PulteGroup, Inc. (NYSE:PHM)

Mount Lucas Management LP reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 60.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,289 shares of the construction company's stock after selling 24,541 shares during the quarter. Mount Lucas Management LP's holdings in PulteGroup were worth $2,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Blair William & Co. IL raised its stake in PulteGroup by 1.9% during the first quarter. Blair William & Co. IL now owns 27,269 shares of the construction company's stock worth $3,289,000 after acquiring an additional 516 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of PulteGroup by 1.1% during the 1st quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company's stock valued at $55,993,000 after acquiring an additional 5,022 shares during the period. Shell Asset Management Co. grew its stake in shares of PulteGroup by 135.5% in the 1st quarter. Shell Asset Management Co. now owns 8,932 shares of the construction company's stock valued at $1,077,000 after buying an additional 5,140 shares during the period. Bessemer Group Inc. grew its stake in PulteGroup by 108.6% in the first quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company's stock valued at $1,981,000 after acquiring an additional 8,555 shares during the period. Finally, Interval Partners LP bought a new stake in shares of PulteGroup during the first quarter worth about $1,206,000. 89.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value 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 $12,043,420.09. This trade represents a 44.29 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PHM. Wedbush reissued a "neutral" rating and set a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. Oppenheimer reduced their target price on PulteGroup from $168.00 to $165.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Barclays boosted their target price on PulteGroup from $131.00 to $150.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of PulteGroup from $141.00 to $152.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $145.00.

PulteGroup Stock Down 0.4 %

PulteGroup stock traded down $0.55 during mid-day trading on Friday, hitting $128.89. The company had a trading volume of 1,509,994 shares, compared to its average volume of 2,026,295. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a market cap of $26.43 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.63. The business has a fifty day moving average of $137.29 and a 200 day moving average of $125.37. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.90 earnings per share. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.68%. PulteGroup's payout ratio is 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.