PulteGroup, Inc. (NYSE:PHM) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 9.4% in the third quarter, Holdings Channel reports. The firm owned 6,144 shares of the construction company’s stock after selling 640 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in PulteGroup were worth $882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PHM. Grove Bank & Trust increased its position in shares of PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after acquiring an additional 72 shares in the last quarter. WR Wealth Planners LLC increased its holdings in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Cromwell Holdings LLC raised its position in PulteGroup by 17.2% in the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after purchasing an additional 83 shares during the period. Concord Wealth Partners lifted its stake in shares of PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after purchasing an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC boosted its position in shares of PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the company’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 value of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The shares were 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 in the company, valued at approximately $12,043,420.09. This trade 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 currently owned by insiders.

PulteGroup Stock Performance

PHM opened at $128.89 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $137.29 and its 200-day moving average is $125.37. The stock has a market cap 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. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47.

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

PulteGroup Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on PHM shares. Raymond James boosted their price target on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Oppenheimer decreased their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. BTIG Research lifted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.00.

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.