QRG Capital Management Inc. Buys 10,356 Shares of PulteGroup, Inc. (NYSE:PHM)

QRG Capital Management Inc. boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 412,723 shares of the construction company’s stock after purchasing an additional 10,356 shares during the period. PulteGroup accounts for approximately 0.6% of QRG Capital Management Inc.’s portfolio, making the stock its 26th largest holding. QRG Capital Management Inc.’s holdings in PulteGroup were worth $59,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenhaven Associates Inc. raised its position in shares of PulteGroup by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after acquiring an additional 16,871 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after buying an additional 235,826 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares during the last quarter. Captrust Financial Advisors lifted its stake in PulteGroup by 18.4% during the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock valued at $130,986,000 after acquiring an additional 168,746 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in PulteGroup by 5.9% during the second quarter. Victory Capital Management Inc. now owns 964,422 shares of the construction company’s stock worth $106,183,000 after purchasing an additional 53,924 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 1.3 %

Shares of NYSE PHM opened at $130.00 on Monday. The stock has a market capitalization of $26.66 billion, a P/E ratio of 9.47, a PEG ratio of 0.53 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a one year low of $80.60 and a one year high of $149.47. The firm’s 50 day simple moving average is $137.31 and its two-hundred day simple moving average is $124.07.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.90 earnings per share. As a group, analysts expect that PulteGroup, Inc. will post 12.92 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.62%. PulteGroup’s payout ratio is currently 5.90%.

Insider Activity

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 sale, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of several research analyst reports. BTIG Research boosted their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Raymond James increased their price objective on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research note on Tuesday, October 22nd. Evercore ISI decreased their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Oppenheimer cut their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, 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.