Algert Global LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Algert Global LLC purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,037 shares of the construction company’s stock, valued at approximately $334,000.

Other hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in PulteGroup in the first quarter valued at approximately $26,000. WR Wealth Planners LLC increased its holdings 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 buying an additional 82 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of PulteGroup during the 1st quarter worth about $28,000. Rothschild Investment LLC acquired a new stake in shares of PulteGroup during the 2nd quarter valued at about $31,000. Finally, Candriam S.C.A. purchased a new stake in shares of PulteGroup in the second quarter valued at approximately $33,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Price Performance

Shares of PHM opened at $140.16 on Wednesday. The firm has a market capitalization of $29.09 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.58 and a beta of 1.62. The firm’s fifty day simple moving average is $132.75 and its 200-day simple moving average is $120.91. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve 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 announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the previous year, the business earned $3.00 EPS. PulteGroup’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts forecast that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.57%. PulteGroup’s dividend payout ratio is currently 6.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their price target on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Bank of America upped their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. raised their target price on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.14.

Insider Buying and Selling at PulteGroup

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred 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 owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 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 owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock worth $15,814,039 over the last three months. 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.