Federated Hermes Inc. Sells 13,126 Shares of PulteGroup, Inc. (NYSE:PHM)

Federated Hermes Inc. lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,811 shares of the construction company’s stock after selling 13,126 shares during the quarter. Federated Hermes Inc.’s holdings in PulteGroup were worth $9,668,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Putnam Investments LLC raised its holdings in PulteGroup by 1.8% in the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after buying an additional 197,656 shares during the last quarter. Norges Bank bought a new position in PulteGroup in the 4th quarter valued at approximately $381,960,000. Allianz Asset Management GmbH raised its holdings in PulteGroup by 38.3% in the 4th 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. Los Angeles Capital Management LLC raised its holdings in PulteGroup by 0.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock valued at $172,971,000 after buying an additional 7,397 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in PulteGroup by 18.4% in the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock valued at $130,986,000 after buying an additional 168,746 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM stock opened at $140.50 on Wednesday. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $141.43. The firm has a 50 day moving average of $127.14 and a 200-day moving average of $117.93. 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 company has a market cap of $29.16 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its 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 for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the business earned $3.00 EPS. PulteGroup’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.41%.

Insider Buying and Selling

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the 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 directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. The sale was disclosed in a document filed with the SEC, which is available 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 transaction of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $2,491,660.00. Following the transaction, the director now owns 45,230 shares in the company, valued at $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 worth $15,814,039 in the last ninety days. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Raymond James increased their target price on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America increased their target price on shares of PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Citigroup decreased their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Evercore ISI increased their target price on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.14.

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.