NatWest Group plc Reduces Stake in PulteGroup, Inc. (NYSE:PHM)

NatWest Group plc cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 24.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,022 shares of the construction company’s stock after selling 19,549 shares during the quarter. PulteGroup accounts for 2.6% of NatWest Group plc’s investment portfolio, making the stock its 17th biggest holding. NatWest Group plc’s holdings in PulteGroup were worth $8,902,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vista Investment Partners LLC acquired a new position in shares of PulteGroup during the 3rd quarter worth $2,620,000. LifeSteps Financial Inc. purchased a new position in PulteGroup during the 3rd quarter valued at about $208,000. Global Retirement Partners LLC raised its position in PulteGroup by 17.4% during the third quarter. Global Retirement Partners LLC now owns 2,732 shares of the construction company’s stock worth $392,000 after acquiring an additional 405 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of PulteGroup in the third quarter valued at about $273,000. Finally, Kowal Investment Group LLC acquired a new stake in shares of PulteGroup in the third quarter valued at approximately $259,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Evercore ISI lifted their price objective on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Wells Fargo & Company boosted their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. increased 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 cut their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, BTIG Research raised their price target on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.14.

Insider Activity

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,000 shares of company stock valued at $15,814,039. Company insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $145.96 on Friday. The company has a market cap of $30.70 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. 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 stock has a 50-day moving average price of $135.27 and a two-hundred day moving average price of $122.22. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $147.46.

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 previous year, the business earned $3.00 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s payout ratio is currently 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.