Los Angeles Capital Management LLC Sells 142,257 Shares of PulteGroup, Inc. (NYSE:PHM)

Los Angeles Capital Management LLC trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 9.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,291,759 shares of the construction company’s stock after selling 142,257 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.61% of PulteGroup worth $142,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in PulteGroup in the first quarter worth approximately $26,000. Benjamin Edwards Inc. bought a new stake in PulteGroup in the first quarter worth approximately $26,000. WR Wealth Planners LLC increased its holdings in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC bought a new stake in PulteGroup in the first quarter worth approximately $28,000. Finally, Rothschild Investment LLC bought a new stake in PulteGroup in the second quarter worth approximately $31,000. 89.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The shares were 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is owned by company insiders.

PulteGroup Stock Up 1.5 %

Shares of NYSE:PHM traded up $1.93 during mid-day trading on Friday, hitting $130.20. 2,570,698 shares of the company traded hands, compared to its average volume of 1,844,496. The stock has a 50-day moving average price of $122.82 and a two-hundred day moving average price of $116.33. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $136.47. The stock has a market cap of $27.39 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.54 and a beta of 1.62.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm’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 earnings per share. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.61%. PulteGroup’s payout ratio is currently 6.41%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Bank of America raised their price objective on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup reduced their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

PulteGroup Company 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.