PulteGroup, Inc. (NYSE:PHM) Stake Decreased by Patton Fund Management Inc.

Patton Fund Management Inc. trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,769 shares of the construction company’s stock after selling 2,670 shares during the quarter. PulteGroup comprises 1.4% of Patton Fund Management Inc.’s portfolio, making the stock its 12th largest holding. Patton Fund Management Inc.’s holdings in PulteGroup were worth $6,713,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in shares of PulteGroup in the 1st quarter worth approximately $68,985,000. Hsbc Holdings PLC lifted its position in PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares during the period. Pacer Advisors Inc. boosted its stake in PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of PulteGroup by 130.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after purchasing an additional 219,609 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after buying an additional 212,837 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Down 0.4 %

PulteGroup stock traded down $0.57 during mid-day trading on Thursday, hitting $146.23. The company’s stock had a trading volume of 374,335 shares, compared to its average volume of 1,817,450. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $147.46. The company has a market cap of $30.76 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50 day moving average is $134.79 and its 200 day moving average is $122.05.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the firm earned $3.00 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Analysts Set New Price Targets

PHM has been the subject of several research reports. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. Royal Bank of Canada raised their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. BTIG Research boosted their target price on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America raised their target price 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, Evercore ISI upped their price target on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.14.

Insider Transactions at PulteGroup

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 stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now 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 sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 $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. Over the last ninety days, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is owned by insiders.

About PulteGroup

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.