PulteGroup, Inc. (NYSE:PHM) Shares Sold by FourThought Financial LLC

FourThought Financial LLC trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM – Get Rating) by 23.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,328 shares of the construction company’s stock after selling 1,016 shares during the period. FourThought Financial LLC’s holdings in PulteGroup were worth $125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. Balyasny Asset Management LLC acquired a new stake in shares of PulteGroup during the 3rd quarter worth $78,542,000. AQR Capital Management LLC increased its holdings in PulteGroup by 109.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,780,022 shares of the construction company’s stock valued at $147,307,000 after purchasing an additional 1,972,574 shares in the last quarter. First Trust Advisors LP increased its holdings in PulteGroup by 29.4% in the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after purchasing an additional 1,101,565 shares in the last quarter. Greenhaven Associates Inc. increased its holdings in PulteGroup by 25.0% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,305,310 shares of the construction company’s stock valued at $198,949,000 after purchasing an additional 1,062,570 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in PulteGroup by 36.3% in the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock valued at $152,982,000 after purchasing an additional 972,310 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PulteGroup news, EVP Todd N. Sheldon sold 15,998 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $53.83, for a total value of $861,172.34. Following the transaction, the executive vice president now owns 82,339 shares of the company’s stock, valued at $4,432,308.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PulteGroup news, VP John J. Chadwick sold 29,817 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $56.63, for a total value of $1,688,536.71. Following the sale, the vice president now owns 87,428 shares in the company, valued at $4,951,047.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Todd N. Sheldon sold 15,998 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $53.83, for a total transaction of $861,172.34. Following the completion of the sale, the executive vice president now owns 82,339 shares in the company, valued at approximately $4,432,308.37. The disclosure for this sale can be found here. Insiders have sold 50,739 shares of company stock valued at $2,845,149 over the last quarter. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PHM shares. Royal Bank of Canada increased their price target on PulteGroup from $46.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, February 1st. Oppenheimer raised their target price on PulteGroup from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. KeyCorp raised their target price on PulteGroup from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. BTIG Research raised their target price on PulteGroup from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. Finally, JPMorgan Chase & Co. raised their target price on PulteGroup from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $61.69.

PulteGroup Stock Performance

Shares of PHM stock opened at $55.42 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.62 and a current ratio of 0.62. PulteGroup, Inc. has a one year low of $35.03 and a one year high of $60.89. The company’s 50-day simple moving average is $53.94 and its 200-day simple moving average is $46.04. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 4.99, a PEG ratio of 0.47 and a beta of 1.31.

PulteGroup (NYSE:PHM – Get Rating) last issued its earnings results on Tuesday, January 31st. The construction company reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.75. PulteGroup had a net margin of 16.13% and a return on equity of 31.85%. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter last year, the company posted $2.51 earnings per share. PulteGroup’s revenue was up 18.7% on a year-over-year basis. Equities analysts anticipate that PulteGroup, Inc. will post 7.34 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Monday, March 20th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 17th. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. PulteGroup’s dividend payout ratio is currently 5.77%.

About PulteGroup

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PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.