DoubleLine ETF Adviser LP Buys New Position in PulteGroup, Inc. (NYSE:PHM)

DoubleLine ETF Adviser LP bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,847 shares of the construction company’s stock, valued at approximately $644,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blair William & Co. IL boosted its holdings in PulteGroup by 1.9% during the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock valued at $3,289,000 after acquiring an additional 516 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of PulteGroup by 166.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock valued at $1,586,000 after buying an additional 8,215 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of PulteGroup by 6.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock valued at $35,890,000 after buying an additional 17,369 shares during the period. Personal CFO Solutions LLC purchased a new position in shares of PulteGroup in the 4th quarter valued at about $719,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of PulteGroup by 4.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company’s stock valued at $74,913,000 after buying an additional 28,774 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PHM. Raymond James lifted their price objective on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Oppenheimer lifted their price objective on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, Barclays raised their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $134.71.

PulteGroup Trading Down 0.3 %

PHM opened at $139.97 on Friday. The firm has a market cap of $29.05 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.59 and a beta of 1.62. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $145.84. The business’s 50 day moving average is $130.25 and its two-hundred day moving average is $119.18. 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 quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 earnings per share. On average, research analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders 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 payout ratio is currently 6.41%.

Insider Activity

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,000 shares of company stock valued at $15,814,039. Company insiders own 0.83% of the company’s stock.

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.