Concord Asset Management LLC VA Boosts Stake in PulteGroup, Inc. (NYSE:PHM)

Concord Asset Management LLC VA lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,158 shares of the construction company’s stock after purchasing an additional 329 shares during the period. Concord Asset Management LLC VA’s holdings in PulteGroup were worth $740,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL increased its stake in shares of PulteGroup by 1.9% in the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock worth $3,289,000 after purchasing an additional 516 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in PulteGroup by 1.1% in the 1st quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company’s stock worth $55,993,000 after buying an additional 5,022 shares during the period. Shell Asset Management Co. boosted its holdings in PulteGroup by 135.5% in the 1st quarter. Shell Asset Management Co. now owns 8,932 shares of the construction company’s stock worth $1,077,000 after buying an additional 5,140 shares during the period. Bessemer Group Inc. boosted its holdings in PulteGroup by 108.6% in the 1st quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock worth $1,981,000 after buying an additional 8,555 shares during the period. Finally, Interval Partners LP bought a new position in PulteGroup in the 1st quarter worth $1,206,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction that occurred 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 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 44.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 approximately $5,931,462.20. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

PulteGroup Stock Performance

Shares of PHM stock opened at $128.89 on Friday. The firm has a market cap of $26.43 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.63. The company’s 50 day moving average is $137.29 and its 200 day moving average is $125.37. 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, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data 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 company had revenue of $4.48 billion for 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%. PulteGroup’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company posted $2.90 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a $0.22 dividend. 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. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is 5.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Bank of America increased their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company increased their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $145.00.

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.