Twin Capital Management Inc. Cuts Stake in PulteGroup, Inc. (NYSE:PHM)

Twin Capital Management Inc. decreased its holdings in PulteGroup, Inc. (NYSE:PHM) by 30.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 197,670 shares of the construction company’s stock after selling 84,760 shares during the period. Twin Capital Management Inc.’s holdings in PulteGroup were worth $6,250,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PHM. BlackRock Inc. boosted its holdings in shares of PulteGroup by 3.5% during the 1st quarter. BlackRock Inc. now owns 20,802,851 shares of the construction company’s stock valued at $581,647,000 after acquiring an additional 695,085 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PulteGroup by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,530,759 shares of the construction company’s stock worth $221,724,000 after purchasing an additional 361,635 shares during the period. Northern Trust Corp lifted its stake in shares of PulteGroup by 6.7% in the 1st quarter. Northern Trust Corp now owns 3,738,682 shares of the construction company’s stock worth $104,533,000 after purchasing an additional 234,028 shares during the period. Geode Capital Management LLC raised its stake in PulteGroup by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 3,726,118 shares of the construction company’s stock worth $96,689,000 after acquiring an additional 145,187 shares during the period. Finally, Janus Henderson Group PLC raised its stake in PulteGroup by 15.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,088,316 shares of the construction company’s stock worth $66,033,000 after acquiring an additional 281,443 shares during the period. 87.07% of the stock is owned by institutional investors.

In related news, Director Brian P. Anderson sold 21,191 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $33.03, for a total value of $699,938.73. Following the completion of the transaction, the director now directly owns 80,065 shares of the company’s stock, valued at $2,644,546.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brian P. Anderson sold 18,766 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $32.28, for a total transaction of $605,766.48. Following the completion of the transaction, the director now directly owns 104,735 shares of the company’s stock, valued at $3,380,845.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,957 shares of company stock worth $1,788,205. Company insiders own 0.49% of the company’s stock.

Shares of PulteGroup stock traded down $0.03 on Thursday, hitting $31.63. 46,647 shares of the company traded hands, compared to its average volume of 4,254,143. The firm has a market cap of $8.64 billion, a PE ratio of 8.81, a P/E/G ratio of 1.25 and a beta of 0.72. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.54. PulteGroup, Inc. has a 52 week low of $20.64 and a 52 week high of $34.03. The company’s 50-day moving average price is $32.16.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.47 billion. PulteGroup had a net margin of 9.23% and a return on equity of 20.68%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 3.41 earnings per share for the current year.

A number of research firms have commented on PHM. SunTrust Banks began coverage on shares of PulteGroup in a research note on Monday. They set a “buy” rating and a $38.00 target price on the stock. Royal Bank of Canada upgraded shares of PulteGroup from an “underperform” rating to a “sector perform” rating and raised their target price for the stock from $29.00 to $33.00 in a research note on Wednesday, July 24th. BTIG Research upgraded shares of PulteGroup from a “sell” rating to a “neutral” rating and set a $31.35 target price on the stock in a research note on Wednesday, April 24th. Finally, Zacks Investment Research upgraded shares of PulteGroup from a “sell” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.60.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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