PulteGroup, Inc. $PHM Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,055 shares of the construction company’s stock after selling 6,829 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of PulteGroup worth $13,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PHM. California State Teachers Retirement System increased its holdings in shares of PulteGroup by 13,473.6% during the 2nd quarter. California State Teachers Retirement System now owns 37,204,217 shares of the construction company’s stock worth $5,104,791,000 after buying an additional 36,930,125 shares during the last quarter. Norges Bank acquired a new position in PulteGroup in the fourth quarter valued at approximately $466,653,000. Price T Rowe Associates Inc. MD lifted its holdings in PulteGroup by 126.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after acquiring an additional 2,392,580 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in PulteGroup in the second quarter valued at approximately $189,931,000. Finally, Public Sector Pension Investment Board grew its position in PulteGroup by 5,485.0% in the fourth quarter. Public Sector Pension Investment Board now owns 930,622 shares of the construction company’s stock worth $109,125,000 after acquiring an additional 913,959 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wolfe Research set a $129.00 target price on PulteGroup and gave the stock an “outperform” rating in a research note on Monday, August 24th. UBS Group reaffirmed a “buy” rating and issued a $166.00 price target on shares of PulteGroup in a research note on Thursday, July 23rd. Benchmark upgraded PulteGroup to a “strong-buy” rating in a report on Thursday, September 3rd. Barclays raised their price objective on PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Evercore restated an “outperform” rating and issued a $162.00 price objective on shares of PulteGroup in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.87.

PulteGroup Stock Up 1.5%

PulteGroup stock opened at $118.19 on Friday. The company has a market capitalization of $22.15 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.47 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. PulteGroup, Inc. has a fifty-two week low of $108.49 and a fifty-two week high of $144.49. The firm has a 50 day moving average price of $127.20 and a 200 day moving average price of $124.38.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the firm earned $3.03 earnings per share. The firm’s revenue was down 9.6% compared to the same quarter last year. Research analysts expect that PulteGroup, Inc. will post 10.07 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 15th. PulteGroup’s payout ratio is currently 10.62%.

About PulteGroup

PulteGroup, Inc is a U.S. homebuilding company that designs, constructs and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its residential offerings include single-family homes, townhomes and communities in a variety of price ranges and styles.

The company operates through several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West Homes. Its communities are located across numerous metropolitan areas and regions in the United States, with operations spanning markets in the South, Southeast, Southwest, Midwest and West.

PulteGroup also provides mortgage lending and related title services to support home purchases through its financial-services operations.