Clough Capital Partners L P Sells 38,150 Shares of PulteGroup, Inc. $PHM

Clough Capital Partners L P trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 258,964 shares of the construction company’s stock after selling 38,150 shares during the quarter. PulteGroup comprises about 3.0% of Clough Capital Partners L P’s investment portfolio, making the stock its 10th largest holding. Clough Capital Partners L P’s holdings in PulteGroup were worth $34,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Railway Pension Investments Ltd increased its holdings in shares of PulteGroup by 2.4% during the second quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after purchasing an additional 3,200 shares during the period. Principal Financial Group Inc. boosted its stake in shares of PulteGroup by 24.2% in the third quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock valued at $41,348,000 after buying an additional 61,009 shares during the period. Nisa Investment Advisors LLC grew its position in PulteGroup by 10.5% during the third quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after buying an additional 10,028 shares in the last quarter. Envestnet Asset Management Inc. grew its position in PulteGroup by 16.1% during the third quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock worth $49,050,000 after buying an additional 51,506 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in PulteGroup by 129.5% during the 2nd quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock worth $15,778,000 after acquiring an additional 85,637 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Oppenheimer restated an “outperform” rating and issued a $149.00 price target (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. UBS Group reiterated a “buy” rating on shares of PulteGroup in a research note on Thursday. Finally, Evercore raised their target price on shares of PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.71.

PulteGroup Price Performance

Shares of PHM stock opened at $119.14 on Friday. The business has a fifty day simple moving average of $131.06 and a 200 day simple moving average of $127.47. The company has a market cap of $22.91 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.38 and a beta of 1.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $144.49.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be issued a $0.26 dividend. 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 0.9%. PulteGroup’s dividend payout ratio is 9.35%.

Insider Transactions at PulteGroup

In related news, COO Matthew William Koart sold 15,309 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the transaction, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. This represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares of the company’s stock, valued at approximately $2,069,333.19. The trade was a 26.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 149,952 shares of company stock valued at $20,162,165. 0.76% of the stock is owned by company insiders.

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.