Toroso Investments LLC lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM – Get Rating) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,249 shares of the construction company’s stock after selling 7,438 shares during the quarter. Toroso Investments LLC’s holdings in PulteGroup were worth $1,434,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. Private Trust Co. NA bought a new position in shares of PulteGroup during the second quarter valued at approximately $29,000. Zions Bancorporation N.A. raised its holdings in shares of PulteGroup by 115.2% during the first quarter. Zions Bancorporation N.A. now owns 1,595 shares of the construction company’s stock valued at $67,000 after acquiring an additional 854 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of PulteGroup by 17.6% during the first quarter. Advisors Asset Management Inc. now owns 1,749 shares of the construction company’s stock valued at $73,000 after acquiring an additional 262 shares in the last quarter. Forsta AP Fonden bought a new position in shares of PulteGroup during the third quarter valued at approximately $79,000. Finally, Guardian Wealth Advisors LLC bought a new position in shares of PulteGroup during the third quarter valued at approximately $83,000. Institutional investors own 88.07% of the company’s stock.
Insider Activity at PulteGroup
In related news, VP John J. Chadwick sold 29,817 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $56.63, for a total transaction of $1,688,536.71. Following the sale, the vice president now directly owns 87,428 shares of the company’s stock, valued at $4,951,047.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PulteGroup news, VP Brien P. O’meara sold 4,924 shares of the stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $60.00, for a total value of $295,440.00. Following the transaction, the vice president now owns 17,308 shares of the company’s stock, valued at $1,038,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John J. Chadwick sold 29,817 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 87,428 shares in the company, valued at approximately $4,951,047.64. 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 ninety days. Insiders own 0.71% of the company’s stock.
PulteGroup Trading Down 0.7 %
PulteGroup (NYSE:PHM – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The construction company reported $3.63 EPS for the quarter, beating the consensus estimate of $2.88 by $0.75. PulteGroup had a return on equity of 31.85% and a net margin of 16.13%. The company had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same period last year, the firm posted $2.51 earnings per share. PulteGroup’s revenue was up 18.7% compared to the same quarter last year. As a group, equities analysts forecast that PulteGroup, Inc. will post 7.34 EPS for the current fiscal year.
PulteGroup Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Monday, March 20th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 17th. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. PulteGroup’s dividend payout ratio (DPR) is presently 5.77%.
Analyst Ratings Changes
PHM has been the subject of a number of recent analyst reports. Wedbush upped their target price on PulteGroup from $47.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, February 1st. The Goldman Sachs Group upped their price target on PulteGroup from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 12th. Citigroup upped their price target on PulteGroup from $56.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. JPMorgan Chase & Co. upped their price target on PulteGroup from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Finally, Barclays upped their price target on PulteGroup from $58.00 to $75.00 in a research note on Sunday, February 5th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $61.69.
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.
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