New York State Common Retirement Fund Trims Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

New York State Common Retirement Fund lowered its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 50.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,223 shares of the construction company's stock after selling 126,057 shares during the period. New York State Common Retirement Fund owned 0.06% of PulteGroup worth $18,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. WR Wealth Planners LLC grew its holdings in PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after purchasing an additional 99 shares during the last quarter. LRI Investments LLC bought a new stake in shares of PulteGroup in the first quarter worth $28,000. Rothschild Investment LLC acquired a new stake in PulteGroup in the second quarter valued at $31,000. Finally, Candriam S.C.A. bought a new stake in shares of PulteGroup in the 2nd quarter valued at about $33,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Down 3.1 %

Shares of NYSE:PHM traded down $4.09 during mid-day trading on Wednesday, hitting $129.17. 3,670,186 shares of the company traded hands, compared to its average volume of 1,848,776. The stock has a 50-day moving average price of $137.27 and a two-hundred day moving average price of $124.43. PulteGroup, Inc. has a 12-month low of $80.60 and a 12-month high of $149.47. The stock has a market cap of $26.49 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.53 and a beta of 1.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the firm earned $2.90 EPS. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.92 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. PulteGroup's dividend payout ratio is currently 5.90%.

Analyst Ratings Changes

PHM has been the subject of a number of analyst reports. Raymond James raised their price objective on PulteGroup from $135.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Wedbush restated a "neutral" rating and set a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 24th. 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. Finally, Wolfe Research cut shares of PulteGroup from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, August 14th. Six equities research 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 company has an average rating of "Moderate Buy" and an average price target of $145.00.

Insider Transactions at PulteGroup

In other PulteGroup 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 transaction, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 89,323 shares of the company's stock, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

PulteGroup 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.