Federated Hermes Inc. Sells 13,126 Shares of PulteGroup, Inc. (NYSE:PHM)

Federated Hermes Inc. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,811 shares of the construction company’s stock after selling 13,126 shares during the period. Federated Hermes Inc.’s holdings in PulteGroup were worth $9,668,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PHM. Norges Bank bought a new stake in shares of PulteGroup during the 4th quarter worth $381,960,000. Swedbank AB bought a new stake in shares of PulteGroup during the 1st quarter worth $68,985,000. Allianz Asset Management GmbH raised its stake in shares of PulteGroup by 38.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after purchasing an additional 523,623 shares during the period. Janney Montgomery Scott LLC increased its holdings in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after acquiring an additional 219,609 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after acquiring an additional 212,837 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PHM has been the subject of several recent research reports. BTIG Research lifted their price objective on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Oppenheimer lifted their price objective on PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Citigroup decreased their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Royal Bank of Canada lifted their price objective on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

Insider Transactions at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction 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 $12,043,420.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is owned by corporate insiders.

PulteGroup Stock Up 0.3 %

PHM stock opened at $140.50 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $29.16 billion, a PE ratio of 11.25, a PEG ratio of 0.55 and a beta of 1.62. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $141.43. The stock has a 50-day simple moving average of $127.14 and a two-hundred day simple moving average of $117.93.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the firm earned $3.00 earnings per share. PulteGroup’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s payout ratio is 6.41%.

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.