Meeder Advisory Services Inc. Acquires 977 Shares of PulteGroup, Inc. (NYSE:PHM)

Meeder Advisory Services Inc. raised its holdings in PulteGroup, Inc. (NYSE:PHM) by 41.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,337 shares of the construction company’s stock after acquiring an additional 977 shares during the period. Meeder Advisory Services Inc.’s holdings in PulteGroup were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Benjamin Edwards Inc. purchased a new position in PulteGroup in the 1st quarter valued at approximately $26,000. WR Wealth Planners LLC grew its position in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC purchased a new position in shares of PulteGroup in the first quarter valued at $28,000. Rothschild Investment LLC bought a new stake in shares of PulteGroup during the 2nd quarter valued at $31,000. Finally, Candriam S.C.A. purchased a new stake in PulteGroup during the 2nd quarter worth about $33,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 3.1 %

PHM opened at $139.54 on Monday. The firm has a market capitalization of $29.35 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.54 and a beta of 1.62. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $140.77. The business has a 50 day simple moving average of $125.73 and a two-hundred day simple moving average of $117.51. 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 announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 earnings per share. Analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PHM. Citigroup decreased their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Evercore ISI increased 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 boosted their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Oppenheimer boosted 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. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

Insider Activity

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the sale, the chief financial officer now directly owns 160,330 shares in the company, valued at $20,729,065.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the sale, the chief financial officer now owns 160,330 shares in the company, valued at $20,729,065.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 directly owns 45,230 shares in the company, valued at $5,931,462.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,000 shares of company stock valued at $15,814,039. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Company 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.