Dorsey & Whitney Trust CO LLC Sells 722 Shares of PulteGroup, Inc. (NYSE:PHM)

Dorsey & Whitney Trust CO LLC trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 25.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,170 shares of the construction company’s stock after selling 722 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in PulteGroup were worth $239,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Benjamin Edwards Inc. purchased a new position in shares of PulteGroup in the first quarter worth approximately $26,000. WR Wealth Planners LLC grew its position in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. LRI Investments LLC purchased a new stake in shares of PulteGroup in the 1st quarter worth $28,000. Rothschild Investment LLC bought a new position in PulteGroup in the 2nd quarter worth $31,000. Finally, Candriam S.C.A. purchased a new position in PulteGroup during the second quarter valued at $33,000. 89.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Thomas J. Folliard sold 19,000 shares of the 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 transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares in the company, valued at $20,729,065.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,000 shares of company stock valued at $15,814,039. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on PHM shares. JPMorgan Chase & Co. upped their price target on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI raised their target price on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Royal Bank of Canada upped their price target on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Raymond James increased their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Citigroup decreased their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. 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, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $133.14.

PulteGroup Price Performance

NYSE:PHM opened at $135.29 on Friday. The business has a 50 day simple moving average of $125.02 and a 200-day simple moving average of $117.12. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $136.47. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.53 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

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

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. PulteGroup’s payout ratio is 6.41%.

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.