Rhumbline Advisers Sells 40,302 Shares of PulteGroup, Inc. $PHM

Rhumbline Advisers trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 9.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 391,139 shares of the construction company’s stock after selling 40,302 shares during the period. Rhumbline Advisers’ holdings in PulteGroup were worth $51,681,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in shares of PulteGroup by 0.8% during the 2nd quarter. Franklin Resources Inc. now owns 12,290,631 shares of the construction company’s stock valued at $1,296,170,000 after purchasing an additional 95,058 shares during the last quarter. Norges Bank purchased a new stake in shares of PulteGroup in the second quarter worth about $404,339,000. First Trust Advisors LP boosted its stake 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 buying an additional 683,728 shares during the last quarter. Invesco Ltd. grew its holdings in PulteGroup by 0.9% during the 2nd quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock valued at $277,811,000 after buying an additional 23,051 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in PulteGroup in the 3rd quarter worth approximately $315,883,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. The Goldman Sachs Group reiterated a “neutral” rating and set a $144.00 price objective on shares of PulteGroup in a research report on Tuesday, January 13th. Oppenheimer restated an “outperform” rating and issued a $149.00 target price (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Barclays set a $115.00 target price on shares of PulteGroup in a research report on Monday, December 8th. Finally, Citigroup lifted their price target on PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.15.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $142.42 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. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $143.66. The company has a market capitalization of $27.39 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.59 and a beta of 1.33. The firm’s 50-day moving average is $126.37 and its 200 day moving average is $126.15.

PulteGroup Dividend Announcement

The firm also recently declared 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is currently 9.35%.

Insiders Place Their Bets

In other news, insider Ryan Marshall sold 111,250 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the completion of the sale, the insider directly owned 659,392 shares of the company’s stock, valued at approximately $88,266,213.12. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Todd N. Sheldon sold 14,220 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was 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 owned 69,753 shares in the company, valued at approximately $9,417,352.53. The trade was a 16.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 144,779 shares of company stock worth $19,432,616 in the last 90 days. 0.76% of the stock is owned by insiders.

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.