PulteGroup, Inc. (NYSE:PHM) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 13.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 84,730 shares of the construction company’s stock after selling 12,717 shares during the quarter. Royce & Associates LP’s holdings in PulteGroup were worth $12,161,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup during the 3rd quarter valued at about $29,000. WR Wealth Planners LLC lifted its position in PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. LRI Investments LLC purchased a new position in PulteGroup in the 1st quarter worth approximately $28,000. Finally, Rothschild Investment LLC purchased a new stake in shares of PulteGroup during the second quarter valued at approximately $31,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

NYSE PHM opened at $128.89 on Friday. The company has a 50 day moving average price of $137.29 and a two-hundred day moving average price of $125.27. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47. The stock has a market capitalization of $26.43 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the previous year, the firm earned $2.90 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.68%. PulteGroup’s payout ratio is presently 5.90%.

Wall Street Analysts Forecast Growth

PHM has been the topic of several analyst reports. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Bank of America upped their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Barclays raised their price target on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Wolfe Research lowered shares of 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Activity

In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their position. 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 stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 44.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

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.