PulteGroup, Inc. $PHM Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,889 shares of the construction company’s stock after selling 244 shares during the period. Bessemer Group Inc.’s holdings in PulteGroup were worth $833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PHM. Envestnet Asset Management Inc. grew its stake in shares of PulteGroup by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 319,722 shares of the construction company’s stock worth $33,718,000 after acquiring an additional 3,795 shares during the last quarter. Wealthfront Advisers LLC grew its position in PulteGroup by 3.7% during the 2nd quarter. Wealthfront Advisers LLC now owns 98,023 shares of the construction company’s stock worth $10,338,000 after purchasing an additional 3,490 shares during the last quarter. MQS Management LLC acquired a new position in PulteGroup during the 2nd quarter valued at approximately $692,000. Leavell Investment Management Inc. raised its holdings in shares of PulteGroup by 4.7% in the second quarter. Leavell Investment Management Inc. now owns 2,260 shares of the construction company’s stock worth $239,000 after buying an additional 102 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs lifted its stake in shares of PulteGroup by 7.3% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 8,591 shares of the construction company’s stock worth $906,000 after buying an additional 581 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM stock opened at $120.06 on Friday. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The stock has a market cap of $23.40 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 0.95 and a beta of 1.29. The business has a 50-day simple moving average of $129.46 and a 200-day simple moving average of $115.43.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the business earned $3.35 earnings per share. PulteGroup’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s payout ratio is currently 6.77%.

Analyst Ratings Changes

PHM has been the subject of a number of research analyst reports. Citigroup raised their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Oppenheimer increased their price objective on PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.67.

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.