GLOBALT Investments LLC GA Sells 3,526 Shares of PulteGroup, Inc. (NYSE:PHM)

GLOBALT Investments LLC GA lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 26.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,012 shares of the construction company’s stock after selling 3,526 shares during the period. GLOBALT Investments LLC GA’s holdings in PulteGroup were worth $1,437,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PHM. Lazard Asset Management LLC raised its holdings in shares of PulteGroup by 1.1% in the 1st quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company’s stock valued at $55,993,000 after purchasing an additional 5,022 shares in the last quarter. Shell Asset Management Co. lifted its holdings in PulteGroup by 135.5% during the first quarter. Shell Asset Management Co. now owns 8,932 shares of the construction company’s stock worth $1,077,000 after buying an additional 5,140 shares during the period. Bessemer Group Inc. boosted its position in PulteGroup by 108.6% during the 1st quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock valued at $1,981,000 after acquiring an additional 8,555 shares in the last quarter. Interval Partners LP purchased a new position in shares of PulteGroup in the 1st quarter valued at $1,206,000. Finally, Seven Eight Capital LP bought a new position in shares of PulteGroup in the 1st quarter worth $1,261,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of recent research reports. BTIG Research raised their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Oppenheimer decreased their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Bank of America lifted their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Evercore ISI lowered their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The trade was a 44.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the company’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 transaction, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This trade represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $128.57 on Tuesday. The stock has a market cap of $26.37 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47. The company has a 50 day simple moving average of $137.29 and a two-hundred day simple moving average of $125.46. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.90 earnings per share. As a group, analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a dividend of $0.22 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is currently 5.90%.

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.