Legal & General Group Plc Has $182.77 Million Stake in PulteGroup, Inc. $PHM

Legal & General Group Plc trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 6.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,383,260 shares of the construction company’s stock after selling 89,283 shares during the quarter. Legal & General Group Plc’s holdings in PulteGroup were worth $182,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evergreen Capital Management LLC raised its position in shares of PulteGroup by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after acquiring an additional 78 shares during the last quarter. Apella Capital LLC grew its stake in shares of PulteGroup by 4.2% during the third quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock worth $268,000 after purchasing an additional 87 shares during the period. CWM LLC grew its stake in shares of PulteGroup by 0.6% during the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock worth $1,890,000 after purchasing an additional 92 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in PulteGroup by 5.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company’s stock valued at $229,000 after purchasing an additional 94 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in PulteGroup by 1.0% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,520 shares of the construction company’s stock valued at $1,390,000 after purchasing an additional 100 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $120.32 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $131.06 and a 200-day moving average of $127.59. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $144.49. The company has a market capitalization of $23.14 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.43 and a beta of 1.32.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is currently 9.35%.

Insider Activity

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total transaction of $729,548.19. Following the sale, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This represents a 26.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the completion of the transaction, the executive vice president directly owned 69,753 shares in the company, valued at approximately $9,417,352.53. This represents a 16.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PHM has been the subject of several analyst reports. BTIG Research assumed coverage on PulteGroup in a research report on Monday, December 1st. They set a “neutral” rating for the company. Citizens Jmp assumed coverage on shares of PulteGroup in a report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price objective for the company. Citigroup upped their target price on shares of PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Barclays set a $115.00 price target on shares of PulteGroup in a research report on Monday, December 8th. Finally, Zacks Research lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.71.

About PulteGroup

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.