LSV Asset Management Has $400.25 Million Position in PulteGroup, Inc. (NYSE:PHM)

LSV Asset Management reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,635,304 shares of the construction company’s stock after selling 79,176 shares during the quarter. PulteGroup comprises approximately 0.9% of LSV Asset Management’s portfolio, making the stock its 18th biggest holding. LSV Asset Management’s holdings in PulteGroup were worth $400,247,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL lifted its holdings in PulteGroup by 1.9% during the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock worth $3,289,000 after purchasing an additional 516 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in PulteGroup by 166.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after purchasing an additional 8,215 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in PulteGroup by 6.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after acquiring an additional 17,369 shares during the period. Personal CFO Solutions LLC bought a new position in PulteGroup during the 4th quarter worth $719,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in PulteGroup by 4.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company’s stock worth $74,913,000 after acquiring an additional 28,774 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the sale, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Folliard sold 19,000 shares of the company’s 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 sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock valued at $15,814,039 in the last 90 days. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup lowered their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Barclays raised their price objective on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Friday, August 16th. Oppenheimer raised their price objective on PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Bank of America raised their price objective on PulteGroup from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.14.

PulteGroup Price Performance

PHM traded up $1.93 on Friday, reaching $130.20. The stock had a trading volume of 2,570,698 shares, compared to its average volume of 1,844,496. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $136.47. The firm has a 50-day moving average of $122.82 and a 200-day moving average of $116.42. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $27.39 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 0.54 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its earnings results 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. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. PulteGroup’s payout ratio is presently 6.41%.

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.