ProShare Advisors LLC Boosts Stock Position in PulteGroup, Inc. (NYSE:PHM)

ProShare Advisors LLC raised its stake in PulteGroup, Inc. (NYSE:PHM) by 108.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,630 shares of the construction company’s stock after purchasing an additional 43,052 shares during the period. ProShare Advisors LLC’s holdings in PulteGroup were worth $9,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. purchased a new position in PulteGroup in the first quarter valued at about $26,000. WR Wealth Planners LLC grew its stake in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of PulteGroup during the first quarter worth about $28,000. Rothschild Investment LLC purchased a new stake in shares of PulteGroup during the second quarter worth about $31,000. Finally, Candriam S.C.A. purchased a new stake in shares of PulteGroup during the second quarter worth about $33,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $143.26 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a fifty day moving average of $129.87 and a 200 day moving average of $119.03. The firm has a market cap of $30.13 billion, a PE ratio of 11.47, a PEG ratio of 0.57 and a beta of 1.62. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84.

PulteGroup (NYSE:PHM) last issued its quarterly 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 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 company posted $3.00 EPS. PulteGroup’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. PulteGroup’s payout ratio is currently 6.41%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PHM. Raymond James boosted their price target on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their price target on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays boosted their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI boosted their price target on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.71.

Insiders Place Their Bets

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction dated 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 directly owns 160,330 shares in the company, valued at $20,729,065.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 160,330 shares in the company, valued at $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 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 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 in the last 90 days. 0.83% of the stock is owned by insiders.

PulteGroup Profile

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.