Oppenheimer & Co. Inc. Has $7.67 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Oppenheimer & Co. Inc. reduced its position in PulteGroup, Inc. (NYSE:PHM) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,449 shares of the construction company’s stock after selling 963 shares during the period. Oppenheimer & Co. Inc.’s holdings in PulteGroup were worth $7,672,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Blair William & Co. IL boosted its stake in shares of PulteGroup by 1.9% during the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock worth $3,289,000 after acquiring an additional 516 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of PulteGroup by 6.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after acquiring an additional 17,369 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of 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 acquiring an additional 5,022 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of PulteGroup by 135.5% during the 1st quarter. Shell Asset Management Co. now owns 8,932 shares of the construction company’s stock worth $1,077,000 after acquiring an additional 5,140 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of PulteGroup by 108.6% during the 1st quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock worth $1,981,000 after acquiring an additional 8,555 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PHM has been the subject of several recent analyst reports. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Royal Bank of Canada increased their target price on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. BTIG Research increased their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays increased their target price on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Bank of America increased their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Trading Down 1.1 %

Shares of PHM opened at $127.46 on Thursday. PulteGroup, Inc. has a 1 year low of $85.31 and a 1 year high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $137.31 and a 200-day simple moving average of $125.12. The stock has a market cap of $26.14 billion, a PE ratio of 9.40, a PEG ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the firm posted $2.90 EPS. PulteGroup’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.63%. PulteGroup’s payout ratio is presently 5.90%.

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.