Chesley Taft & Associates LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Chesley Taft & Associates LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the third quarter, Holdings Channel reports. The institutional investor bought 19,290 shares of the construction company’s stock, valued at approximately $2,769,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Schroder Investment Management Group raised its holdings in shares of PulteGroup by 438.1% during the fourth quarter. Schroder Investment Management Group now owns 209,915 shares of the construction company’s stock valued at $21,667,000 after acquiring an additional 170,908 shares during the last quarter. Waterloo Capital L.P. acquired a new position in PulteGroup in the 4th quarter valued at $295,000. Elo Mutual Pension Insurance Co lifted its holdings in PulteGroup by 1.9% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 19,159 shares of the construction company’s stock valued at $1,978,000 after purchasing an additional 366 shares in the last quarter. Unigestion Holding SA purchased a new stake in shares of PulteGroup during the fourth quarter worth $730,000. Finally, Dean Capital Management lifted its stake in shares of PulteGroup by 19.4% in the fourth quarter. Dean Capital Management now owns 17,102 shares of the construction company’s stock worth $1,765,000 after buying an additional 2,774 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the topic of several recent research reports. Citigroup lowered their price target on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. BTIG Research upped their price target on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research report on Friday, August 16th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.14.

Insider Transactions at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 119,000 shares of company stock valued at $15,814,039. Insiders own 0.83% of the company’s stock.

PulteGroup Trading Down 0.0 %

NYSE:PHM opened at $139.39 on Tuesday. The stock has a fifty day moving average price of $132.62 and a 200 day moving average price of $120.75. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $145.84. The firm has a market cap of $28.93 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 0.58 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data 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 business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 earnings per share. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. PulteGroup’s dividend payout ratio (DPR) is currently 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.