PulteGroup, Inc. (NYSE:PHM) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 6.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 394,294 shares of the construction company’s stock after acquiring an additional 22,318 shares during the period. PulteGroup comprises about 1.0% of Wedge Capital Management L L P NC’s portfolio, making the stock its 26th largest holding. Wedge Capital Management L L P NC’s holdings in PulteGroup were worth $56,593,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Greenhaven Associates Inc. raised its position in shares of PulteGroup by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after purchasing an additional 16,871 shares during the period. Pacer Advisors Inc. lifted its stake in 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 in the last quarter. Hsbc Holdings PLC boosted its holdings 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 buying an additional 250,937 shares during the period. Los Angeles Capital Management LLC increased its position in shares of PulteGroup by 0.5% in the first quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock worth $172,971,000 after acquiring an additional 7,397 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of PulteGroup by 18.4% during the first 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 during the period. 89.90% of the stock is owned by institutional investors.

Insider Buying and Selling at PulteGroup

In other 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 transaction of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was 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 owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the business’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 value of $2,491,660.00. Following the sale, the director now owns 45,230 shares in the company, valued at approximately $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 have sold 119,000 shares of company stock valued at $15,814,039 in the last 90 days. 0.83% of the stock is currently owned by insiders.

PulteGroup Stock Performance

Shares of NYSE:PHM traded up $1.94 during trading on Monday, reaching $141.14. The stock had a trading volume of 209,186 shares, compared to its average volume of 1,825,388. The stock has a fifty day simple moving average of $133.46 and a two-hundred day simple moving average of $121.55. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $145.84. The firm has a market capitalization of $29.69 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.57 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm posted $3.00 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.57%. PulteGroup’s payout ratio is 6.41%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research note on Friday, August 16th. Citigroup lowered their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Wells Fargo & Company increased their price objective on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Raymond James lifted their target price on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.14.

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.