BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 131,382 Shares of PulteGroup, Inc. (NYSE:PHM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 69.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,108 shares of the construction company’s stock after selling 131,382 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in PulteGroup were worth $8,340,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PHM. Fortitude Family Office LLC boosted its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup in the 3rd quarter valued at approximately $29,000. WR Wealth Planners LLC grew its stake 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 buying an additional 82 shares in the last quarter. LRI Investments LLC acquired a new position in PulteGroup during the first quarter worth $28,000. Finally, Rothschild Investment LLC bought a new stake in PulteGroup during the second quarter worth $31,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PHM shares. Oppenheimer lowered their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. UBS Group raised their price target on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company raised their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Price Performance

PHM stock opened at $129.76 on Monday. The stock has a market cap of $26.61 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 0.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The company has a 50 day simple moving average of $136.74 and a 200 day simple moving average of $125.90. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47.

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

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Insider Activity

In related news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred on 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 in the company, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is currently owned by insiders.

PulteGroup 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.