PulteGroup, Inc. (NYSE:PHM) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,600 shares of the construction company’s stock after selling 400 shares during the period. Hennessy Advisors Inc.’s holdings in PulteGroup were worth $2,819,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Putnam Investments LLC boosted its stake in PulteGroup by 1.8% during the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after purchasing an additional 197,656 shares during the period. Norges Bank acquired a new position in shares of PulteGroup in the 4th quarter worth $381,960,000. Allianz Asset Management GmbH increased its position in shares of PulteGroup by 38.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after acquiring an additional 523,623 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of PulteGroup by 0.5% during the first quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock valued at $172,971,000 after acquiring an additional 7,397 shares during the period. Finally, Captrust Financial Advisors lifted its position in shares of PulteGroup by 18.4% in the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock valued at $130,986,000 after acquiring an additional 168,746 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of research analyst reports. Evercore ISI boosted 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. Oppenheimer boosted their target price on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Citigroup lowered their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research report on Friday, August 16th. Finally, Royal Bank of Canada upped their price target on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

PulteGroup Trading Up 2.3 %

Shares of PHM opened at $132.21 on Friday. The stock has a fifty day moving average price of $118.52 and a two-hundred day moving average price of $114.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $27.44 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.50 and a beta of 1.61. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $135.62.

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

Insiders Place Their Bets

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.83% of the company’s stock.

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.