PulteGroup, Inc. $PHM Stock Position Trimmed by Greenhaven Associates Inc.
by Sarita Garza · The Markets DailyGreenhaven Associates Inc. cut its stake in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,534,428 shares of the construction company’s stock after selling 35,400 shares during the quarter. PulteGroup accounts for about 10.5% of Greenhaven Associates Inc.’s holdings, making the stock its 4th biggest holding. Greenhaven Associates Inc. owned approximately 2.84% of PulteGroup worth $648,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in PHM. Norges Bank bought a new stake in shares of PulteGroup during the 2nd quarter worth $404,339,000. Massachusetts Financial Services Co. MA purchased a new position in PulteGroup in the third quarter worth $315,883,000. AGF Management Ltd. bought a new position in PulteGroup in the third quarter valued at $174,347,000. American Century Companies Inc. raised its position in PulteGroup by 120.4% during the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after purchasing an additional 930,287 shares in the last quarter. Finally, First Trust Advisors LP raised its position in PulteGroup by 27.2% during the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after purchasing an additional 683,728 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Citizens Jmp started coverage on PulteGroup in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price objective on the stock. Citigroup raised their price objective on PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Royal Bank Of Canada boosted their target price on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $142.71.
Insider Transactions at PulteGroup
In other news, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the completion of the sale, the vice president owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. This represents a 31.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan Marshall sold 111,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the completion of the transaction, the insider owned 659,392 shares in the company, valued at $88,266,213.12. This represents a 14.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 149,952 shares of company stock valued at $20,162,165. Insiders own 0.76% of the company’s stock.
PulteGroup Stock Down 2.9%
Shares of NYSE:PHM opened at $114.48 on Friday. The stock’s 50-day moving average price is $130.66 and its 200-day moving average price is $127.05. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $144.49. The stock has a market capitalization of $21.93 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.
PulteGroup Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s payout ratio is 9.35%.
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.