Thrivent Financial for Lutherans Raises Stake in PulteGroup, Inc. (NYSE:PHM)

Thrivent Financial for Lutherans boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 23.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,364 shares of the construction company’s stock after purchasing an additional 3,446 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PulteGroup were worth $2,022,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB purchased a new stake in shares of PulteGroup in the 1st quarter worth approximately $68,985,000. Hsbc Holdings PLC grew its stake in shares of PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after acquiring an additional 250,937 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after purchasing an additional 219,609 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after purchasing an additional 212,837 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PHM shares. Barclays lifted 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. Citigroup lowered their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Evercore ISI lifted their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. BTIG Research upped their price target on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Raymond James increased their price objective on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.71.

Insider Buying and Selling

In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $5,931,462.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 160,330 shares in the company, valued at $20,729,065.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is owned by corporate insiders.

PulteGroup Stock Up 0.8 %

Shares of PHM stock opened at $144.65 on Wednesday. The company has a 50 day simple moving average of $131.66 and a two-hundred day simple moving average of $120.11. The stock has a market cap of $30.02 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.58 and a beta of 1.62. PulteGroup, Inc. has a 12 month low of $68.80 and a 12 month high of $145.84. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the previous year, the business earned $3.00 earnings per share. PulteGroup’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

PulteGroup Company 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.