Sumitomo Mitsui Trust Group Inc. Boosts Holdings in PulteGroup, Inc. (NYSE:PHM)

Sumitomo Mitsui Trust Group Inc. boosted its position in PulteGroup, Inc. (NYSE:PHM) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,232 shares of the construction company’s stock after purchasing an additional 957 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of PulteGroup worth $76,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PHM. WR Wealth Planners LLC lifted its stake in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Fortitude Family Office LLC lifted its stake in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. LRI Investments LLC purchased a new stake in PulteGroup in the 1st quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of PulteGroup in the 3rd quarter worth $29,000. Finally, Rothschild Investment LLC bought a new stake in shares of PulteGroup during the 2nd quarter worth $31,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated 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 directly owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 44.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $129.48 on Friday. The firm’s 50-day moving average price is $137.29 and its two-hundred day moving average price is $125.14. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47. The stock has a market capitalization of $26.55 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.52 and a beta of 1.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the previous year, the company earned $2.90 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently announced 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 is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. PulteGroup’s payout ratio is presently 5.90%.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Oppenheimer dropped their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Raymond James lifted their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Finally, Bank of America lifted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

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.