Elevation Point Wealth Partners LLC Has $1.05 Million Stock Position in PulteGroup, Inc. $PHM

Elevation Point Wealth Partners LLC boosted its position in PulteGroup, Inc. (NYSE:PHM) by 723.3% during the 3rd quarter, Holdings Channel reports. The fund owned 7,912 shares of the construction company’s stock after buying an additional 6,951 shares during the period. Elevation Point Wealth Partners LLC’s holdings in PulteGroup were worth $1,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in shares of PulteGroup by 5.0% during the third quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock valued at $1,704,513,000 after acquiring an additional 609,640 shares in the last quarter. Norges Bank bought a new position in shares of PulteGroup in the 2nd quarter worth $404,339,000. First Trust Advisors LP lifted its holdings in shares of PulteGroup by 13.3% in the 3rd quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock worth $478,828,000 after purchasing an additional 424,011 shares in the last quarter. Invesco Ltd. grew its position in PulteGroup by 0.9% in the 2nd quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock valued at $277,811,000 after purchasing an additional 23,051 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in PulteGroup in the 3rd quarter valued at $315,883,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $122.19 on Tuesday. 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 stock has a market cap of $23.50 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32. The stock’s fifty day simple moving average is $131.11 and its two-hundred day simple moving average is $127.38. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $144.49.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors 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 0.9%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is presently 9.35%.

Wall Street Analysts Forecast Growth

PHM has been the topic of several research reports. Royal Bank Of Canada upped their price objective on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. JPMorgan Chase & Co. reduced their price objective on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Oppenheimer reissued an “outperform” rating and set a $149.00 target price (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Truist Financial assumed coverage on shares of PulteGroup in a report on Wednesday, March 4th. They issued a “buy” rating and a $170.00 target price on the stock. Finally, Citigroup raised their price target on shares of PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.71.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.51, for a total value of $542,040.00. Following the completion of the sale, the vice president owned 8,601 shares in the company, valued at approximately $1,165,521.51. This trade represents a 31.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the transaction, the insider directly owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 149,952 shares of company stock valued at $20,162,165 in the last quarter. 0.76% of the stock is owned by company 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.