Korea Investment CORP Has $18.37 Million Stock Position in PulteGroup, Inc. $PHM

Korea Investment CORP lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 30.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,042 shares of the construction company’s stock after selling 61,922 shares during the quarter. Korea Investment CORP’s holdings in PulteGroup were worth $18,372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHM. Private Wealth Management Group LLC raised its stake in shares of PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of PulteGroup during the second quarter valued at approximately $32,000. Rexford Capital Inc. acquired a new stake in shares of PulteGroup in the second quarter valued at approximately $35,000. True Wealth Design LLC increased its holdings in shares of PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after purchasing an additional 248 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its position in PulteGroup by 1,423.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock worth $52,000 after purchasing an additional 370 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PHM shares. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 price objective on shares of PulteGroup in a report on Wednesday, February 4th. Wall Street Zen upgraded PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Evercore upped their price target on PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. Oppenheimer reiterated an “outperform” rating and issued a $149.00 price target (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.71.

PulteGroup Stock Down 1.9%

Shares of NYSE PHM opened at $124.29 on Wednesday. The stock has a market cap of $23.91 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.47 and a beta of 1.32. The firm has a 50 day moving average price of $130.88 and a 200 day moving average price of $127.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $144.49.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is currently 9.35%.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 4,000 shares of the firm’s stock in a transaction 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 sale, the vice president owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. This trade represents a 31.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $133.86, for a total value of $14,891,925.00. Following the transaction, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,952 shares of company stock worth $20,162,165 over the last ninety days. Insiders own 0.76% of the company’s stock.

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.