Canada Pension Plan Investment Board Raises Stake in PulteGroup, Inc. (NYSE:PHM)

Canada Pension Plan Investment Board grew its stake in PulteGroup, Inc. (NYSE:PHM) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,000 shares of the construction company’s stock after purchasing an additional 14,213 shares during the period. Canada Pension Plan Investment Board owned about 0.10% of PulteGroup worth $22,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Putnam Investments LLC boosted its position in PulteGroup by 1.8% during the fourth quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock worth $1,136,318,000 after purchasing an additional 197,656 shares in the last quarter. Allianz Asset Management GmbH lifted its stake 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 in the last quarter. Hsbc Holdings PLC grew its holdings in shares of PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after buying an additional 250,937 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of PulteGroup by 0.5% in the first quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock valued at $172,971,000 after purchasing an additional 7,397 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in PulteGroup by 18.4% in the first quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock valued at $130,986,000 after acquiring an additional 168,746 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $20,729,065.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the company’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 value of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup 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 sale, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PHM. JPMorgan Chase & Co. raised their target price on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. BTIG Research increased their price objective on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Oppenheimer upped their price objective on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.71.

PulteGroup Stock Down 2.2 %

PHM opened at $141.86 on Monday. The business’s fifty day simple moving average is $128.95 and its 200 day simple moving average is $118.60. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $145.84. The firm has a market cap of $29.44 billion, a P/E ratio of 11.36, a PEG ratio of 0.57 and a beta of 1.62. The company has a quick ratio of 0.76, a current 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 EPS 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 firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the firm posted $3.00 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.56%. PulteGroup’s dividend payout ratio is presently 6.41%.

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.