Winslow Asset Management Inc. lowered its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 260,495 shares of the construction company's stock after selling 10,554 shares during the quarter. PulteGroup comprises approximately 6.9% of Winslow Asset Management Inc.'s investment portfolio, making the stock its 2nd biggest holding. Winslow Asset Management Inc. owned 0.13% of PulteGroup worth $37,389,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PHM. Swedbank AB bought a new stake in shares of PulteGroup during the first quarter worth approximately $68,985,000. Hsbc Holdings PLC grew its stake in shares of PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company's stock worth $168,254,000 after acquiring an additional 250,937 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company's stock worth $326,864,000 after buying an additional 235,826 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in PulteGroup by 35.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company's stock valued at $123,649,000 after acquiring an additional 223,841 shares during the last quarter. Finally, Homestead Advisers Corp boosted its holdings in PulteGroup by 89.8% in the first quarter. Homestead Advisers Corp now owns 375,500 shares of the construction company's stock valued at $45,122,000 after acquiring an additional 177,700 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Director Thomas J. Folliard sold 19,000 shares of the company'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 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 Securities & Exchange Commission, which is available through the SEC website. 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 business's stock in a transaction that occurred 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 of the company's stock, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Evercore ISI decreased their price target on PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Wedbush restated a "neutral" rating and set a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. Barclays raised their price target on PulteGroup from $131.00 to $150.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Bank of America boosted their price objective on PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada upped their target price on PulteGroup from $113.00 to $120.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $145.00.
Check Out Our Latest Analysis on PulteGroup
PulteGroup Stock Down 3.4 %
PulteGroup stock traded down $4.59 during trading hours on Tuesday, reaching $128.87. The stock had a trading volume of 1,908,352 shares, compared to its average volume of 1,843,108. The business's 50 day moving average price is $137.30 and its 200-day moving average price is $125.02. The company has a market cap of $26.43 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.54 and a beta of 1.63. PulteGroup, Inc. has a 52 week low of $81.00 and a 52 week high of $149.47. 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 (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. 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 company posted $2.90 earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current year.
PulteGroup Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, September 17th. PulteGroup's dividend payout ratio (DPR) is 5.90%.
PulteGroup Company Profile
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Free Report)
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.
Further Reading
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