California State Teachers Retirement System lowered its position in PulteGroup, Inc. (NYSE:PHM) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 439,503 shares of the construction company’s stock after selling 25,197 shares during the period. California State Teachers Retirement System owned 0.15% of PulteGroup worth $12,961,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in PulteGroup by 3.0% in the fourth quarter. BlackRock Inc. now owns 22,912,891 shares of the construction company’s stock worth $761,852,000 after buying an additional 658,662 shares during the last quarter. HM Payson & Co. bought a new stake in PulteGroup during the fourth quarter worth approximately $237,000. Raymond James & Associates boosted its position in PulteGroup by 16.6% during the fourth quarter. Raymond James & Associates now owns 297,426 shares of the construction company’s stock worth $9,890,000 after purchasing an additional 42,237 shares during the period. Flinton Capital Management LLC boosted its position in PulteGroup by 466.0% during the fourth quarter. Flinton Capital Management LLC now owns 63,392 shares of the construction company’s stock worth $2,108,000 after purchasing an additional 52,192 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in PulteGroup by 7,557.2% during the fourth quarter. Glenmede Trust Co. NA now owns 1,429,833 shares of the construction company’s stock worth $47,541,000 after purchasing an additional 1,411,160 shares during the period. Hedge funds and other institutional investors own 83.57% of the company’s stock.
In other news, COO Harmon D. Smith sold 1,045 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $31.32, for a total value of $32,729.40. Following the completion of the sale, the chief operating officer now directly owns 308,539 shares of the company’s stock, valued at $9,663,441.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Harmon D. Smith sold 51,716 shares of the stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $31.40, for a total value of $1,623,882.40. Following the completion of the sale, the chief operating officer now directly owns 256,823 shares of the company’s stock, valued at $8,064,242.20. The disclosure for this sale can be found here. Insiders sold 66,761 shares of company stock valued at $2,086,972 over the last three months. 0.86% of the stock is owned by company insiders.
PHM opened at $28.78 on Monday. PulteGroup, Inc. has a 1-year low of $23.81 and a 1-year high of $35.21. The company has a market capitalization of $8.33 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.49 and a beta of 1.02.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, April 24th. The construction company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.15. PulteGroup had a return on equity of 17.48% and a net margin of 5.91%. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business earned $0.31 earnings per share. PulteGroup’s revenue for the quarter was up 20.9% compared to the same quarter last year. sell-side analysts anticipate that PulteGroup, Inc. will post 3.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Thursday, June 7th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $0.36 annualized dividend and a dividend yield of 1.25%. PulteGroup’s dividend payout ratio is 16.44%.
PHM has been the subject of a number of recent analyst reports. Mizuho reaffirmed a “buy” rating and set a $36.00 target price on shares of PulteGroup in a research report on Thursday, March 15th. Royal Bank of Canada reaffirmed a “buy” rating and set a $35.00 target price on shares of PulteGroup in a research report on Monday, March 26th. Barclays decreased their target price on PulteGroup from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, March 26th. B. Riley raised PulteGroup from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $40.00 in a research report on Wednesday, April 25th. Finally, Credit Suisse Group set a $35.00 target price on PulteGroup and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.21.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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