Rhumbline Advisers Sells 40,302 Shares of PulteGroup, Inc. $PHM

Rhumbline Advisers trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 9.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 391,139 shares of the construction company’s stock after selling 40,302 shares during the period. Rhumbline Advisers owned approximately 0.20% of PulteGroup worth $51,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC raised its stake in PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of PulteGroup in the second quarter worth $32,000. Rexford Capital Inc. bought a new stake in shares of PulteGroup in the second quarter worth $35,000. True Wealth Design LLC increased its position in PulteGroup by 229.6% during the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after acquiring an additional 248 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in PulteGroup by 1,423.1% in the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after acquiring an additional 370 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PHM shares. Raymond James Financial restated an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Citigroup upped their target price on shares of PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Royal Bank Of Canada lifted their price target on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $149.00 price objective (up previously from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.15.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $142.42 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $143.66. The company has a market capitalization of $27.39 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.59 and a beta of 1.33. The firm’s 50 day simple moving average is $126.37 and its two-hundred day simple moving average is $126.15.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors 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 annualized dividend and a yield of 0.7%. PulteGroup’s dividend payout ratio is currently 9.35%.

Insiders Place Their Bets

In related news, insider Ryan Marshall sold 111,250 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. This trade represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction that occurred 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 sale, the vice president directly owned 8,601 shares in the company, valued at $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 quarter, insiders have sold 144,779 shares of company stock worth $19,432,616. 0.76% of the stock is currently owned by corporate insiders.

PulteGroup 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.