Intech Investment Management LLC Purchases 133,283 Shares of PulteGroup, Inc. (NYSE:PHM)

Intech Investment Management LLC grew its stake in PulteGroup, Inc. (NYSE:PHM) by 95.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 273,345 shares of the construction company’s stock after buying an additional 133,283 shares during the quarter. Intech Investment Management LLC owned 0.13% of PulteGroup worth $30,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PHM. Independent Advisor Alliance acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $243,000. PNC Financial Services Group Inc. boosted its holdings in PulteGroup by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 32,649 shares of the construction company’s stock worth $3,370,000 after purchasing an additional 414 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in PulteGroup by 21.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,396 shares of the construction company’s stock worth $454,000 after purchasing an additional 763 shares during the last quarter. Clearbridge Investments LLC acquired a new position in PulteGroup during the fourth quarter worth $201,000. Finally, Quest Partners LLC acquired a new position in PulteGroup during the fourth quarter worth $497,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

NYSE:PHM opened at $145.05 on Friday. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $145.84. The firm has a market cap of $30.51 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 0.55 and a beta of 1.62. The firm’s 50-day simple moving average is $128.45 and its 200 day simple moving average is $118.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating 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 analyst estimates of $4.49 billion. During the same period last year, the firm earned $3.00 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.55%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.41%.

Insider Buying and Selling at PulteGroup

In other 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 sale, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock valued at $15,814,039 in the last ninety days. 0.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PHM. Bank of America increased their target price on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Friday, August 16th. Raymond James increased their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI increased their price target on shares of 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. increased their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.71.

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.