State of New Jersey Common Pension Fund D Sells 19,226 Shares of PulteGroup, Inc. (NYSE:PHM)

Posted by Defense World Staff on Apr 22nd, 2023

State of New Jersey Common Pension Fund D lessened its holdings in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 15.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 102,345 shares of the construction company’s stock after selling 19,226 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PulteGroup were worth $4,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA purchased a new position in shares of PulteGroup during the second quarter worth $29,000. General Partner Inc. purchased a new stake in shares of PulteGroup during the fourth quarter worth about $32,000. Accurate Wealth Management LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth about $47,000. International Assets Investment Management LLC acquired a new position in PulteGroup during the fourth quarter worth about $60,000. Finally, Zions Bancorporation N.A. boosted its position in PulteGroup by 115.2% during the first quarter. Zions Bancorporation N.A. now owns 1,595 shares of the construction company’s stock worth $67,000 after acquiring an additional 854 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling

In other PulteGroup news, VP John J. Chadwick sold 29,817 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $56.63, for a total value of $1,688,536.71. Following the completion of the sale, the vice president now directly owns 87,428 shares of the company’s stock, valued at approximately $4,951,047.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Todd N. Sheldon sold 15,998 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $53.83, for a total value of $861,172.34. Following the transaction, the executive vice president now owns 82,339 shares in the company, valued at $4,432,308.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John J. Chadwick sold 29,817 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $56.63, for a total value of $1,688,536.71. Following the sale, the vice president now directly owns 87,428 shares of the company’s stock, valued at approximately $4,951,047.64. The disclosure for this sale can be found here. Insiders sold 50,739 shares of company stock valued at $2,845,149 over the last 90 days. 0.83% of the stock is currently owned by company insiders.

PulteGroup Stock Up 0.0 %

Shares of NYSE:PHM opened at $62.83 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $56.67 and a 200 day simple moving average of $49.33. The firm has a market cap of $14.09 billion, a PE ratio of 5.66, a price-to-earnings-growth ratio of 0.53 and a beta of 1.33. PulteGroup, Inc. has a 12-month low of $35.03 and a 12-month high of $64.49.

PulteGroup (NYSE:PHM – Get Rating) last released its earnings results on Tuesday, January 31st. The construction company reported $3.63 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.75. PulteGroup had a net margin of 16.13% and a return on equity of 31.85%. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the previous year, the firm earned $2.51 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, equities research analysts anticipate that PulteGroup, Inc. will post 7.44 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 4th. Investors of record on Monday, March 20th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.02%. The ex-dividend date was Friday, March 17th. PulteGroup’s payout ratio is currently 5.77%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PHM shares. Bank of America upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $60.00 in a report on Wednesday, January 11th. Wedbush increased their target price on shares of PulteGroup from $47.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, February 1st. Citigroup increased their target price on shares of PulteGroup from $56.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Credit Suisse Group increased their price target on shares of PulteGroup from $52.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.21.

About PulteGroup

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PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.