ClariVest Asset Management LLC Lowers Holdings in PulteGroup, Inc. (NYSE:PHM)

ClariVest Asset Management LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 1.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 28,751 shares of the construction company’s stock after selling 279 shares during the quarter. ClariVest Asset Management LLC’s holdings in PulteGroup were worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of PulteGroup during the 4th quarter worth about $381,960,000. Swedbank AB purchased a new stake in shares of PulteGroup during the first quarter worth approximately $68,985,000. Allianz Asset Management GmbH raised its stake in PulteGroup by 38.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after purchasing an additional 523,623 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after purchasing an additional 219,609 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of PulteGroup by 40.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after buying an additional 212,837 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated 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 owns 89,323 shares in the company, valued at $12,043,420.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the business’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 transaction, 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. Over the last quarter, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on PHM. Evercore ISI increased their price target on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, July 15th. BTIG Research lifted their price target on shares of PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Citigroup cut their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Bank of America upped their price target on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Barclays increased their target price on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

PulteGroup Stock Up 0.8 %

Shares of NYSE:PHM opened at $132.70 on Wednesday. The stock has a market cap of $27.91 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.53 and a beta of 1.62. The firm’s 50 day moving average price is $123.89 and its 200 day moving average price is $116.89. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $136.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15.

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, beating the consensus estimate of $3.27 by $0.56. The business 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 revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.00 EPS. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. PulteGroup’s dividend payout ratio is presently 6.41%.

About PulteGroup

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.