Rafferty Asset Management LLC Has $41.68 Million Holdings in PulteGroup, Inc. $PHM

Rafferty Asset Management LLC raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 74.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,414 shares of the construction company’s stock after acquiring an additional 135,069 shares during the period. Rafferty Asset Management LLC’s holdings in PulteGroup were worth $41,676,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PHM. Franklin Resources Inc. lifted its holdings in PulteGroup by 0.8% during the 2nd quarter. Franklin Resources Inc. now owns 12,290,631 shares of the construction company’s stock worth $1,296,170,000 after purchasing an additional 95,058 shares during the last quarter. Norges Bank acquired a new stake in shares of PulteGroup during the second quarter worth $404,339,000. First Trust Advisors LP lifted its holdings in shares of PulteGroup by 27.2% during the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock worth $337,462,000 after buying an additional 683,728 shares in the last quarter. Invesco Ltd. boosted its position in shares of PulteGroup by 0.9% in the second quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock valued at $277,811,000 after acquiring an additional 23,051 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of PulteGroup in the third quarter valued at about $315,883,000. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. BTIG Research began coverage on shares of PulteGroup in a report on Monday, December 1st. They set a “neutral” rating on the stock. Citigroup boosted their price target on PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Raymond James Financial restated an “outperform” rating and set a $145.00 price objective on shares of PulteGroup in a research note on Wednesday, February 4th. Finally, Evercore lifted their price objective on PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.62.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the transaction, the vice president owned 8,601 shares in the company, valued at $1,165,521.51. The trade was a 31.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Todd N. Sheldon sold 14,220 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.01, for a total value of $1,919,842.20. Following the transaction, the executive vice president directly owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. The trade was a 16.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 149,952 shares of company stock worth $20,162,165 over the last quarter. 0.76% of the stock is currently owned by company insiders.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $137.09 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 company has a market cap of $26.37 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.58 and a beta of 1.33. The company has a 50 day moving average of $129.37 and a 200-day moving average of $127.61. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $144.49.

PulteGroup Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s payout ratio is 9.35%.

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.