Illinois Municipal Retirement Fund Sells 39,880 Shares of PulteGroup, Inc. $PHM

Illinois Municipal Retirement Fund trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 35.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,757 shares of the construction company’s stock after selling 39,880 shares during the period. Illinois Municipal Retirement Fund’s holdings in PulteGroup were worth $9,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Evergreen Capital Management LLC raised its stake in 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 purchasing an additional 78 shares during the period. Fidelis Capital Partners LLC grew its holdings in PulteGroup by 1.0% during the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after buying an additional 85 shares in the last quarter. Apella Capital LLC grew its holdings in PulteGroup by 4.2% during the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock valued at $268,000 after buying an additional 87 shares in the last quarter. CWM LLC raised its position in shares of PulteGroup by 0.6% during the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock valued at $1,890,000 after buying an additional 92 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of PulteGroup by 5.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company’s stock worth $229,000 after buying an additional 94 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $138.92 on Friday. The firm has a fifty day simple moving average of $126.06 and a two-hundred day simple moving average of $125.97. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $142.65. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $26.72 billion, a P/E ratio of 12.49, a PEG ratio of 1.59 and a beta of 1.33.

PulteGroup Announces Dividend

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

Insider Buying and Selling

In other news, VP Brien P. O’meara sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the completion of the sale, the vice president directly owned 8,601 shares of the company’s stock, valued at $1,165,521.51. This trade represents a 31.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction that occurred 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 transaction, the chief operating officer owned 42,418 shares of the company’s stock, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 144,779 shares of company stock valued at $19,432,616. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PHM. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 target price on shares of PulteGroup in a research note on Wednesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Citizens Jmp began coverage on PulteGroup in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price objective for the company. Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, 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. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus price target of $140.15.

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.