PulteGroup, Inc. (PHM) Position Reduced by State Treasurer State of Michigan

State Treasurer State of Michigan lessened its position in PulteGroup, Inc. (NYSE:PHM) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 73,509 shares of the construction company’s stock after selling 500 shares during the period. State Treasurer State of Michigan’s holdings in PulteGroup were worth $2,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV boosted its position in PulteGroup by 3.2% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 27,083 shares of the construction company’s stock valued at $757,000 after buying an additional 836 shares in the last quarter. Carillon Tower Advisers Inc. boosted its position in PulteGroup by 241.7% in the first quarter. Carillon Tower Advisers Inc. now owns 476,100 shares of the construction company’s stock valued at $13,312,000 after buying an additional 336,775 shares in the last quarter. Twin Capital Management Inc. lifted its position in shares of PulteGroup by 0.3% during the first quarter. Twin Capital Management Inc. now owns 282,430 shares of the construction company’s stock worth $7,897,000 after purchasing an additional 790 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of PulteGroup by 166.0% during the first quarter. Victory Capital Management Inc. now owns 305,621 shares of the construction company’s stock worth $8,545,000 after purchasing an additional 190,746 shares in the last quarter. Finally, Regentatlantic Capital LLC lifted its position in shares of PulteGroup by 12.6% during the first quarter. Regentatlantic Capital LLC now owns 33,640 shares of the construction company’s stock worth $941,000 after purchasing an additional 3,773 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

In other PulteGroup news, insider Ryan Marshall sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $27.81, for a total value of $417,150.00. Following the completion of the sale, the insider now owns 453,996 shares of the company’s stock, valued at $12,625,628.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Oshaughnessy sold 95,738 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $31.42, for a total transaction of $3,008,087.96. Following the completion of the sale, the chief financial officer now directly owns 334,213 shares of the company’s stock, valued at approximately $10,500,972.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,846 shares of company stock valued at $5,064,382. 0.49% of the stock is currently owned by insiders.

Shares of PHM traded up $0.38 on Tuesday, reaching $32.24. 574,814 shares of the company’s stock were exchanged, compared to its average volume of 4,578,110. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 1.42 and a beta of 0.84. PulteGroup, Inc. has a 12 month low of $20.64 and a 12 month high of $33.04.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, April 23rd. The construction company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.12. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.93 billion. PulteGroup had a net margin of 9.97% and a return on equity of 21.65%. PulteGroup’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, analysts expect that PulteGroup, Inc. will post 3.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Thursday, June 13th. PulteGroup’s dividend payout ratio (DPR) is 12.26%.

A number of equities analysts have recently issued reports on PHM shares. ValuEngine upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. Zacks Investment Research lowered shares of PulteGroup from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. Buckingham Research upped their target price on shares of PulteGroup from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upgraded shares of PulteGroup from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $24.00 to $25.50 in a research report on Wednesday, April 10th. Finally, Barclays set a $28.00 target price on shares of PulteGroup and gave the stock a “hold” rating in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $28.53.

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About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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