PulteGroup, Inc. (NYSE:PHM) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 31.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,168 shares of the construction company’s stock after selling 5,511 shares during the quarter. iA Global Asset Management Inc.’s holdings in PulteGroup were worth $1,340,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of PulteGroup during the 4th quarter valued at $381,960,000. Swedbank AB purchased a new position in PulteGroup in the first quarter valued at approximately $68,985,000. Allianz Asset Management GmbH lifted its position in PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after buying an additional 523,623 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in PulteGroup by 130.2% during the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after buying an additional 219,609 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of PulteGroup by 40.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after acquiring an additional 212,837 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PHM shares. Barclays upped their price target on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Raymond James lifted their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Oppenheimer boosted their price target on PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

PulteGroup Stock Performance

Shares of PHM opened at $131.65 on Friday. The stock has a market capitalization of $27.69 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.50 and a beta of 1.61. The business’s fifty day moving average price is $120.93 and its 200 day moving average price is $115.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $136.47.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. PulteGroup’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $3.00 earnings per share. Equities research analysts forecast that PulteGroup, Inc. will post 12.9 EPS for the current year.

Insiders Place Their Bets

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock valued at $15,814,039 over the last three months. Company insiders own 0.83% of the company’s stock.

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.