FCG Investment Co Sells 2,251 Shares of PulteGroup, Inc. (NYSE:PHM)

FCG Investment Co trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 41.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,224 shares of the construction company’s stock after selling 2,251 shares during the quarter. FCG Investment Co’s holdings in PulteGroup were worth $463,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PHM. Swedbank AB bought a new stake in PulteGroup in the 1st quarter worth about $68,985,000. Hsbc Holdings PLC increased its holdings in 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 buying an additional 250,937 shares in the last quarter. Pacer Advisors Inc. increased its holdings in PulteGroup by 8.6% in the 2nd 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 increased its holdings in PulteGroup by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock worth $123,649,000 after buying an additional 223,841 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after buying an additional 219,609 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PHM. UBS Group raised their target price on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Oppenheimer dropped their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, BTIG Research raised their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Stock Up 0.8 %

Shares of PHM opened at $133.55 on Monday. The business’s 50 day moving average is $137.14 and its 200 day moving average is $123.31. The company has a market capitalization of $28.09 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. PulteGroup, Inc. has a 12-month low of $71.20 and a 12-month high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for 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%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $2.90 EPS. Research analysts expect that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s payout ratio is 6.41%.

Insiders Place Their Bets

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock valued at $15,814,039 in the last quarter. 0.83% of the stock is currently 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.