PulteGroup, Inc. (NYSE:PHM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,851 shares of the construction company’s stock after selling 257 shares during the period. Kentucky Retirement Systems’ holdings in PulteGroup were worth $1,745,000 at the end of the most recent quarter.

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

Insider Buying and Selling at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated 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 $5,931,462.20. The transaction 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 28,993 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. 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 company’s 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 sale, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. 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 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $141.86 on Friday. The firm has a market cap of $29.44 billion, a PE ratio of 11.36, a P/E/G ratio of 0.57 and a beta of 1.62. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $145.84. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $128.95 and a 200 day moving average price of $118.50.

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 return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s dividend payout ratio is presently 6.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PHM shares. JPMorgan Chase & Co. increased their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Bank of America raised their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays upped their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Oppenheimer raised their target price on shares of PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Raymond James upped their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus 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.