Dimensional Fund Advisors LP Decreases Stock Position in PulteGroup, Inc. $PHM

Dimensional Fund Advisors LP trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,141,787 shares of the construction company’s stock after selling 259,181 shares during the period. Dimensional Fund Advisors LP owned about 1.61% of PulteGroup worth $415,148,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of PulteGroup in the second quarter valued at $404,339,000. Massachusetts Financial Services Co. MA purchased a new position in PulteGroup in the 3rd quarter valued at about $315,883,000. AGF Management Ltd. purchased a new stake in shares of PulteGroup during the third quarter worth about $174,347,000. American Century Companies Inc. raised its position in shares of PulteGroup by 120.4% in the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after buying an additional 930,287 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake 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 valued at $337,462,000 after buying an additional 683,728 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PHM shares. Royal Bank Of Canada lifted their target price on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Truist Financial started coverage on PulteGroup in a research note on Wednesday. They issued a “buy” rating and a $170.00 target price for the company. Raymond James Financial reissued an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a research note on Wednesday, February 4th. Evercore upped their price objective on shares of PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. Finally, BTIG Research assumed coverage on shares of PulteGroup in a report on Monday, December 1st. They set a “neutral” rating on the stock. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $142.71.

PulteGroup Trading Up 0.2%

PHM opened at $132.33 on Thursday. The firm has a market capitalization of $25.45 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.54 and a beta of 1.32. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $144.49. 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 firm’s 50 day moving average is $130.22 and its 200-day moving average is $127.72.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be issued a $0.26 dividend. 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 9.35%.

Insider Transactions at PulteGroup

In related news, EVP Kevin A. Henry sold 5,173 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value 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 trade represents a 26.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction 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 transaction, the chief operating officer owned 42,418 shares of the company’s stock, valued at $5,759,940.22. This trade represents a 26.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 149,952 shares of company stock worth $20,162,165 over the last 90 days. Corporate insiders own 0.76% of the company’s stock.

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.