Hsbc Holdings PLC Purchases 250,937 Shares of PulteGroup, Inc. (NYSE:PHM)

Hsbc Holdings PLC grew its position in PulteGroup, Inc. (NYSE:PHM) by 19.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,529,698 shares of the construction company’s stock after buying an additional 250,937 shares during the quarter. Hsbc Holdings PLC owned 0.74% of PulteGroup worth $168,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elo Mutual Pension Insurance Co raised its position in PulteGroup by 22.8% during the second quarter. Elo Mutual Pension Insurance Co now owns 17,303 shares of the construction company’s stock valued at $1,905,000 after purchasing an additional 3,212 shares in the last quarter. Blair William & Co. IL increased its stake in shares of PulteGroup by 25.1% in the 2nd quarter. Blair William & Co. IL now owns 34,127 shares of the construction company’s stock valued at $3,757,000 after purchasing an additional 6,858 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of PulteGroup by 5.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,159 shares of the construction company’s stock worth $4,306,000 after buying an additional 2,050 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of PulteGroup by 3.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 307,123 shares of the construction company’s stock worth $34,013,000 after buying an additional 10,626 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in PulteGroup in the second quarter valued at about $1,145,000. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of several research analyst reports. BTIG Research boosted their target price on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays upped their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Oppenheimer boosted their target price on shares of PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Evercore ISI increased their price target on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, JPMorgan Chase & Co. boosted their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average target price of $133.14.

PulteGroup Price Performance

PulteGroup stock opened at $140.99 on Thursday. The stock’s 50 day moving average is $127.82 and its 200 day moving average is $118.10. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $144.18. The firm has a market cap of $29.66 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the firm posted $3.00 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. PulteGroup’s payout ratio is currently 6.41%.

Insider Transactions at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction 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 transaction, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,000 shares of company stock valued at $15,814,039. Corporate insiders own 0.83% of the company’s stock.

About PulteGroup

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.