Amalgamated Bank Sells 12,186 Shares of PulteGroup, Inc. (NYSE:PHM)

Amalgamated Bank cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 18.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,417 shares of the construction company’s stock after selling 12,186 shares during the quarter. Amalgamated Bank’s holdings in PulteGroup were worth $5,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. Benjamin Edwards Inc. bought a new position in PulteGroup in the 1st quarter valued at approximately $26,000. WR Wealth Planners LLC increased its holdings in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after buying an additional 82 shares in the last quarter. LRI Investments LLC purchased a new position in PulteGroup in the 1st quarter worth about $28,000. Rothschild Investment LLC purchased a new stake in shares of PulteGroup during the 2nd quarter valued at about $31,000. Finally, Candriam S.C.A. bought a new stake in shares of PulteGroup in the second quarter worth approximately $33,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $141.86 on Friday. The firm has a market cap of $29.44 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.57 and a beta of 1.62. The firm has a fifty day moving average price of $128.95 and a 200 day moving average price of $118.50. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $145.84. 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 quarterly earnings data 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 business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect 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 will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Analysts Set New Price Targets

PHM has been the topic of several research reports. BTIG Research raised their target price on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Citigroup cut their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Barclays boosted their target price on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.71.

Insider Buying and Selling

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction 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 approximately $12,043,420.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 of the company’s stock, valued at $5,931,462.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,000 shares of company stock worth $15,814,039. 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.