The Manufacturers Life Insurance Company Sells 8,313 Shares of PulteGroup, Inc. $PHM

The Manufacturers Life Insurance Company trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 7.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 101,884 shares of the construction company’s stock after selling 8,313 shares during the period. The Manufacturers Life Insurance Company’s holdings in PulteGroup were worth $11,983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quantinno Capital Management LP grew its position in PulteGroup by 2.6% in the 1st quarter. Quantinno Capital Management LP now owns 650,025 shares of the construction company’s stock valued at $76,449,000 after acquiring an additional 16,344 shares during the last quarter. Clough Capital Partners L P lifted its position in shares of PulteGroup by 11.8% during the first quarter. Clough Capital Partners L P now owns 318,349 shares of the construction company’s stock worth $37,441,000 after purchasing an additional 33,515 shares during the last quarter. Gateway Wealth Partners LLC bought a new stake in shares of PulteGroup during the first quarter worth $202,000. OMERS ADMINISTRATION Corp boosted its stake in shares of PulteGroup by 38.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 12,404 shares of the construction company’s stock valued at $1,459,000 after purchasing an additional 3,429 shares during the period. Finally, Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of PulteGroup during the first quarter valued at $1,106,000. 89.90% of the stock is owned by institutional investors.

Insider Activity at PulteGroup

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director owned 3,540 shares in the company, valued at $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Stock Performance

PHM stock opened at $126.71 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50-day moving average price of $125.75 and a 200 day moving average price of $125.47. The company has a market capitalization of $23.75 billion, a P/E ratio of 12.94, a PEG ratio of 1.57 and a beta of 1.18. PulteGroup, Inc. has a 1-year low of $108.49 and a 1-year high of $144.49.

PulteGroup (NYSE:PHM) last issued its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.03 EPS. As a group, equities research analysts forecast that PulteGroup, Inc. will post 10.08 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on PHM shares. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Royal Bank Of Canada boosted their price objective on shares of PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Oppenheimer restated an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Barclays raised their target price on shares of PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company lifted their price target on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.14.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.