Vanguard Group Inc. Sells 405,000 Shares of PulteGroup, Inc. $PHM

Vanguard Group Inc. lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,990,559 shares of the construction company’s stock after selling 405,000 shares during the quarter. Vanguard Group Inc. owned about 0.12% of PulteGroup worth $3,037,743,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PHM. Focus Partners Wealth boosted its holdings in PulteGroup by 20.5% in the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after purchasing an additional 2,128 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of PulteGroup by 53.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,865 shares of the construction company’s stock worth $408,000 after buying an additional 1,339 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of PulteGroup by 7.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 103,334 shares of the construction company’s stock worth $10,918,000 after acquiring an additional 6,907 shares during the period. Brookstone Capital Management purchased a new stake in PulteGroup during the second quarter valued at $237,000. Finally, Denali Advisors LLC lifted its holdings in PulteGroup by 73.8% in the second quarter. Denali Advisors LLC now owns 11,340 shares of the construction company’s stock valued at $1,196,000 after acquiring an additional 4,817 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

NYSE PHM opened at $142.13 on Thursday. 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, Inc. has a 12 month low of $88.07 and a 12 month high of $144.49. The stock has a market cap of $27.34 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.65 and a beta of 1.33. The company’s 50 day moving average is $127.38 and its two-hundred day moving average is $126.79.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup’s payout ratio is 9.35%.

Insider Activity

In other PulteGroup news, COO Matthew William Koart sold 15,309 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.79, for a total value of $2,078,809.11. Following the completion of the sale, the chief operating officer owned 42,418 shares in the company, valued at approximately $5,759,940.22. This represents a 26.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.01, for a total value of $1,919,842.20. Following the completion of the transaction, the executive vice president owned 69,753 shares in the company, valued at $9,417,352.53. The trade was a 16.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 144,779 shares of company stock worth $19,432,616. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PHM. The Goldman Sachs Group restated a “neutral” rating and set a $144.00 price target on shares of PulteGroup in a research note on Tuesday, January 13th. Zacks Research downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Raymond James Financial reiterated an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research note on Wednesday, February 4th. Finally, Citigroup boosted their price objective on shares of PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.15.

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.