Contravisory Investment Management Inc. Trims Stake in PulteGroup, Inc. (NYSE:PHM)

Contravisory Investment Management Inc. reduced its position in PulteGroup, Inc. (NYSE:PHM) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,093 shares of the construction company’s stock after selling 127 shares during the period. Contravisory Investment Management Inc.’s holdings in PulteGroup were worth $1,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Greenhaven Associates Inc. lifted its holdings in shares of PulteGroup by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after purchasing an additional 16,871 shares during the last quarter. Pacer Advisors Inc. raised its stake in PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares during the last quarter. Hsbc Holdings PLC raised its stake in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after acquiring an additional 250,937 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in PulteGroup by 0.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock valued at $172,971,000 after acquiring an additional 7,397 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in PulteGroup by 18.4% during the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock valued at $130,986,000 after acquiring an additional 168,746 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $138.65 on Friday. The business’s fifty day moving average price is $133.04 and its two-hundred day moving average price is $121.21. The stock has a market cap of $28.77 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating 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 return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. On average, analysts forecast that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio is presently 6.10%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank of Canada upped their price objective on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Friday, August 16th. Citigroup reduced their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Oppenheimer increased their target price on PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.14.

Insiders Place Their Bets

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the 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 directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock valued at $15,814,039 in the last quarter. 0.83% of the stock is currently owned by company insiders.

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.