PulteGroup, Inc. $PHM Shares Sold by Myriad Asset Management US LP
by Amy Steele · The Cerbat GemMyriad Asset Management US LP lowered its holdings in PulteGroup, Inc. (NYSE:PHM – Free Report) by 74.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,289 shares of the construction company’s stock after selling 6,537 shares during the quarter. Myriad Asset Management US LP’s holdings in PulteGroup were worth $268,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PHM. Nordea Investment Management AB lifted its position in shares of PulteGroup by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock worth $67,387,000 after buying an additional 13,259 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of PulteGroup by 24.2% in the 3rd 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 last quarter. Nisa Investment Advisors LLC grew its position in shares of PulteGroup by 10.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after buying an additional 10,028 shares during the last quarter. EFG Asset Management Americas Corp. raised its stake in PulteGroup by 351.9% during the 3rd quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock worth $6,177,000 after acquiring an additional 36,407 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in PulteGroup by 16.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock worth $49,050,000 after acquiring an additional 51,506 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.
PulteGroup Trading Up 0.0%
NYSE PHM opened at $117.33 on Friday. The stock has a market capitalization of $22.48 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.36 and a beta of 1.33. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $144.49. The firm has a 50-day moving average price of $128.04 and a 200 day moving average price of $125.61. 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 Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is currently 9.35%.
Insiders Place Their Bets
In other PulteGroup news, insider Ryan Marshall sold 111,250 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the transaction, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brien P. O’meara sold 4,000 shares of the firm’s stock in a transaction on 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 directly owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. This trade represents a 31.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 149,952 shares of company stock worth $20,162,165. Corporate insiders own 0.75% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on PHM shares. The Goldman Sachs Group upped their price objective on shares of PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Barclays set a $115.00 target price on PulteGroup in a report on Monday, December 8th. Citigroup raised their price target on PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Evercore lifted their price target on PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $142.71.
Get Our Latest Analysis on PulteGroup
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.