Jacobs Levy Equity Management Inc. Sells 59,759 Shares of PulteGroup, Inc. $PHM

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in PulteGroup, Inc. by 68.5%, resulting in ownership of 27,457 shares valued at approximately $2.8 million after selling 59,759 shares in the first quarter.
• Multiple institutional investors have recently made new investments in PulteGroup, with institutional ownership now at 89.90% of the company's stock.
• Analysts remain optimistic about PulteGroup's growth prospects, with price targets increased by several brokerages, ranging from $112.00 to $150.00 and an average rating of "Moderate Buy."

Jacobs Levy Equity Management Inc. reduced its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 68.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,457 shares of the construction company's stock after selling 59,759 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in PulteGroup were worth $2,823,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PHM. Nuveen LLC bought a new stake in shares of PulteGroup in the first quarter worth about $213,092,000. Pacer Advisors Inc. increased its holdings in shares of PulteGroup by 2,586.8% in the first quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock worth $119,958,000 after acquiring an additional 1,123,471 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PulteGroup by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after acquiring an additional 1,001,290 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of PulteGroup by 219.2% in the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock worth $106,820,000 after acquiring an additional 713,534 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of PulteGroup by 136.8% in the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock worth $107,698,000 after acquiring an additional 571,251 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Down 1.1%

PHM stock traded down $1.51 during mid-day trading on Friday, reaching $137.15. The company had a trading volume of 1,266,161 shares, compared to its average volume of 1,902,088. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50 day simple moving average of $123.37 and a two-hundred day simple moving average of $109.25. The company has a market capitalization of $27.06 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.41 and a beta of 1.27. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business's revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $3.83 earnings per share. As a group, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 16th. PulteGroup's dividend payout ratio (DPR) is currently 6.58%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PHM. Wells Fargo & Company increased their price target on PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Wedbush reiterated an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday, August 13th. UBS Group increased their price objective on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada increased their price objective on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $136.46.

PulteGroup Company 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.