Public Employees Retirement Association of Colorado Has $2.38 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Public Employees Retirement Association of Colorado reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 11.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,568 shares of the construction company’s stock after selling 2,856 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PulteGroup were worth $2,375,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of PulteGroup in the first quarter worth $68,985,000. Allianz Asset Management GmbH lifted its position in shares of PulteGroup by 38.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after purchasing an additional 523,623 shares during the last quarter. Hsbc Holdings PLC boosted its stake in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after purchasing an additional 250,937 shares during the period. Janney Montgomery Scott LLC grew its holdings in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after buying an additional 219,609 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position 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 buying an additional 212,837 shares during the period. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s 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 directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PHM has been the topic of several research analyst reports. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Barclays upped their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research note on Friday, August 16th. Raymond James raised their price objective on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Bank of America boosted their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. 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.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $134.71.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $143.53 on Tuesday. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $145.84. The firm’s 50-day moving average price is $129.50 and its two-hundred day moving average price is $118.81. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $30.19 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.57 and a beta of 1.62.

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

PulteGroup Announces Dividend

The business 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 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.