Los Angeles Capital Management LLC Trims Position in PulteGroup, Inc. (NYSE:PHM)

Los Angeles Capital Management LLC trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,291,759 shares of the construction company’s stock after selling 142,257 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PulteGroup were worth $142,223,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PHM. International Assets Investment Management LLC bought a new position in PulteGroup in the 4th quarter valued at $2,103,000. Benjamin F. Edwards & Company Inc. boosted its holdings in PulteGroup by 4,151.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,658 shares of the construction company’s stock valued at $171,000 after purchasing an additional 1,619 shares during the period. Principal Securities Inc. bought a new position in PulteGroup in the 4th quarter valued at $967,000. Lebenthal Global Advisors LLC bought a new position in PulteGroup in the 4th quarter valued at $206,000. Finally, Calton & Associates Inc. bought a new position in PulteGroup in the 4th quarter valued at $246,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Up 1.5 %

Shares of NYSE:PHM traded up $1.93 during trading on Friday, reaching $130.20. 2,570,698 shares of the company traded hands, compared to its average volume of 1,844,496. The firm has a market capitalization of $27.39 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.54 and a beta of 1.62. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $136.47. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $122.82 and its 200-day moving average is $116.33.

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

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Analyst Ratings Changes

Several research analysts have commented on PHM shares. Raymond James raised their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. 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. JPMorgan Chase & Co. raised their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup lowered their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Finally, Evercore ISI raised their price objective on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.14.

Insider Buying and Selling

In related 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 value of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the 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. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock valued at $15,814,039 over the last quarter. 0.83% of the stock is owned by company 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.