Goldentree Asset Management LP Acquires New Holdings in PulteGroup, Inc. $PHM

Goldentree Asset Management LP bought a new stake in PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, Holdings Channel.com reports. The fund bought 303,092 shares of the construction company’s stock, valued at approximately $39,972,000. PulteGroup accounts for about 3.3% of Goldentree Asset Management LP’s holdings, making the stock its 12th biggest position.

A number of other large investors have also added to or reduced their stakes in PHM. Twin Peaks Wealth Advisors LLC bought a new position in shares of PulteGroup during the 2nd quarter worth approximately $32,000. Rexford Capital Inc. acquired a new stake in PulteGroup in the second quarter valued at approximately $35,000. Private Wealth Management Group LLC boosted its stake in PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC grew its holdings in PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after purchasing an additional 248 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new position in PulteGroup in the third quarter worth $47,000. 89.90% of the stock is currently owned by institutional investors.

Insider Activity at PulteGroup

In other news, EVP Todd N. Sheldon sold 14,220 shares of the firm’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 completion of the transaction, the executive vice president directly owned 69,753 shares in the company, valued at $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction dated 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 sale, the chief operating officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 149,952 shares of company stock worth $20,162,165 in the last quarter. 0.76% of the stock is owned by insiders.

PulteGroup Trading Down 4.1%

NYSE:PHM opened at $117.00 on Thursday. The company has a market capitalization of $22.42 billion, a P/E ratio of 10.52, a PEG ratio of 1.42 and a beta of 1.32. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $144.49. The firm has a fifty day simple moving average of $131.12 and a 200-day simple moving average of $127.24.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be given 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 yield of 0.9%. PulteGroup’s payout ratio is currently 9.35%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. UBS Group restated a “buy” rating on shares of PulteGroup in a research note on Thursday, March 12th. Evercore increased their price target on PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. The Goldman Sachs Group raised their price target on PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. dropped their price target on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $142.71.

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.