Ieq Capital LLC Has $2.06 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Ieq Capital LLC lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 11.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,687 shares of the construction company’s stock after buying an additional 1,985 shares during the period. Ieq Capital LLC’s holdings in PulteGroup were worth $2,057,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PHM. PNC Financial Services Group Inc. grew its position in shares of PulteGroup by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 32,649 shares of the construction company’s stock worth $3,370,000 after buying an additional 414 shares during the period. Clearbridge Investments LLC acquired a new stake in PulteGroup in the 4th quarter valued at $201,000. Franklin Resources Inc. grew its position in PulteGroup by 13.7% in the 4th quarter. Franklin Resources Inc. now owns 426,010 shares of the construction company’s stock valued at $43,973,000 after purchasing an additional 51,277 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in PulteGroup by 10.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 18,049 shares of the construction company’s stock worth $1,863,000 after buying an additional 1,762 shares during the last quarter. Finally, TCW Group Inc. bought a new position in shares of PulteGroup in the fourth quarter valued at $1,118,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred 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 owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. The disclosure for this sale can be found here. In 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 insiders.

PulteGroup Stock Down 2.2 %

PHM opened at $141.86 on Friday. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $145.84. The company’s 50-day moving average price is $128.95 and its two-hundred day moving average price is $118.55. The stock has a market cap of $29.44 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.57 and a beta of 1.62. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating 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 business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. PulteGroup’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts expect that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. PulteGroup’s payout ratio is 6.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PHM shares. JPMorgan Chase & Co. boosted their target price on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price objective on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Oppenheimer lifted their target price on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research report on Friday, August 16th. Finally, Citigroup cut their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.71.

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.