PulteGroup, Inc. (NYSE:PHM) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in PulteGroup, Inc. (NYSE:PHM) by 9.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,144 shares of the construction company’s stock after selling 640 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in PulteGroup were worth $882,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PHM. Fortitude Family Office LLC grew its position 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 valued at $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in PulteGroup during the third quarter worth $29,000. WR Wealth Planners LLC grew its holdings in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of PulteGroup in the 1st quarter worth $28,000. Finally, Rothschild Investment LLC purchased a new position in shares of PulteGroup during the 2nd quarter worth $31,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’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 transaction, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated 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 transaction, 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 44.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of several recent analyst reports. Evercore ISI cut their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Raymond James raised their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. UBS Group increased their price objective on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. BTIG Research lifted their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays increased their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Six 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $128.89 on Monday. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47. The business has a 50-day simple moving average of $137.29 and a 200-day simple moving average of $125.37. The company has a market cap of $26.43 billion, a PE ratio of 9.51, a P/E/G ratio of 0.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last released its quarterly earnings data 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. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the firm posted $2.90 earnings per share. PulteGroup’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.68%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is presently 5.90%.

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.