Mutual of America Capital Management LLC Sells 1,283 Shares of PulteGroup, Inc. (NYSE:PHM)

Mutual of America Capital Management LLC reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,546 shares of the construction company’s stock after selling 1,283 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PulteGroup were worth $2,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PHM. Swedbank AB bought a new position in shares of PulteGroup during the first quarter valued at about $68,985,000. Allianz Asset Management GmbH grew its stake in shares of PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after buying an additional 523,623 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of PulteGroup by 130.2% during the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after buying an additional 219,609 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of PulteGroup by 40.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after buying an additional 212,837 shares during the last quarter. Finally, Homestead Advisers Corp bought a new position in shares of PulteGroup during the fourth quarter valued at about $20,417,000. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PHM shares. Barclays increased their target price on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Evercore ISI increased their target price on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Raymond James increased their target price on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, 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, September 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.71.

PulteGroup Price Performance

Shares of NYSE PHM opened at $143.26 on Wednesday. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $145.84. The company has a 50 day simple moving average of $129.87 and a two-hundred day simple moving average of $119.03. The company has a market capitalization of $30.13 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 0.57 and a beta of 1.62. 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 announced its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share 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 business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm earned $3.00 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

Insider Buying and Selling at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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. Over the last quarter, 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.