PulteGroup, Inc. (NYSE:PHM) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 6.6% during the third quarter, Holdings Channel.com reports. The fund owned 30,909 shares of the construction company’s stock after acquiring an additional 1,923 shares during the quarter. CIBC Asset Management Inc’s holdings in PulteGroup were worth $4,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PHM. Lazard Asset Management LLC raised its holdings in PulteGroup by 1.1% during the 1st quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company’s stock worth $55,993,000 after buying an additional 5,022 shares during the period. Shell Asset Management Co. raised its stake in shares of PulteGroup by 135.5% in the 1st quarter. Shell Asset Management Co. now owns 8,932 shares of the construction company’s stock valued at $1,077,000 after acquiring an additional 5,140 shares in the last quarter. Bessemer Group Inc. raised its position in shares of PulteGroup by 108.6% in the first quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock valued at $1,981,000 after purchasing an additional 8,555 shares during the period. Interval Partners LP acquired a new position in PulteGroup during the 1st quarter worth $1,206,000. Finally, Seven Eight Capital LP acquired a new position in shares of PulteGroup during the 1st quarter worth about $1,261,000. 89.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. BTIG Research raised their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Bank of America lifted their price objective on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Trading Down 0.2 %

Shares of PHM stock opened at $128.57 on Tuesday. The company has a market capitalization of $26.37 billion, a P/E ratio of 9.54, a P/E/G ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $137.29 and a 200 day moving average price of $125.46.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the business earned $2.90 EPS. PulteGroup’s revenue was up 11.8% compared to the same quarter last year. Research analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s payout ratio is currently 6.49%.

Insider Transactions at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 44.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated 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 of the company’s stock, valued at approximately $5,931,462.20. The trade was a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

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.