Caprock Group LLC Buys New Position in PulteGroup, Inc. $PHM

by · The Markets Daily

Caprock Group LLC purchased a new position in PulteGroup, Inc. (NYSE:PHM – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 45,919 shares of the construction company’s stock, valued at approximately $6,062,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of PulteGroup during the 2nd quarter worth $404,339,000. Massachusetts Financial Services Co. MA purchased a new stake in PulteGroup during the third quarter valued at about $315,883,000. AGF Management Ltd. bought a new stake in PulteGroup during the third quarter worth about $174,347,000. First Trust Advisors LP boosted its holdings in shares of PulteGroup by 27.2% in the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock worth $337,462,000 after purchasing an additional 683,728 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of PulteGroup by 143.8% in the 2nd quarter. American Century Companies Inc. now owns 772,762 shares of the construction company’s stock worth $81,496,000 after purchasing an additional 455,754 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PHM. Royal Bank Of Canada raised their price objective on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Oppenheimer reissued an “outperform” rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Evercore upped their price objective on shares of PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. Wells Fargo & Company increased their target price on shares of PulteGroup from $132.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a research report on Wednesday, February 4th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.15.

Get Our Latest Report on PHM

Insider Activity

In other PulteGroup news, EVP Todd N. Sheldon sold 14,220 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 69,753 shares in the company, valued at approximately $9,417,352.53. This trade represents a 16.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew William Koart sold 15,309 shares of the business’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 value of $2,078,809.11. Following the transaction, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. This trade represents a 26.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 144,779 shares of company stock valued at $19,432,616. Company insiders own 0.76% of the company’s stock.

PulteGroup Stock Up 3.7%

Shares of PulteGroup stock opened at $137.33 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.11. The company’s 50 day moving average price is $125.66 and its 200-day moving average price is $125.79. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 1.52 and a beta of 1.33.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio is 9.35%.

PulteGroup Company Profile

(Free Report)

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.

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