NEOS Investment Management LLC Raises Stock Holdings in PulteGroup, Inc. $PHM

NEOS Investment Management LLC boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 51.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,831 shares of the construction company’s stock after acquiring an additional 8,776 shares during the quarter. NEOS Investment Management LLC’s holdings in PulteGroup were worth $3,413,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of PHM. Merit Financial Group LLC increased its holdings in shares of PulteGroup by 6.3% in the third quarter. Merit Financial Group LLC now owns 21,446 shares of the construction company’s stock valued at $2,834,000 after purchasing an additional 1,278 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of PulteGroup by 1.5% during the 3rd quarter. Fifth Third Bancorp now owns 7,571 shares of the construction company’s stock worth $1,000,000 after acquiring an additional 115 shares during the period. Petra Financial Advisors Inc. purchased a new position in shares of PulteGroup during the 3rd quarter worth $920,000. PNC Financial Services Group Inc. boosted its position in shares of PulteGroup by 6.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 49,336 shares of the construction company’s stock valued at $6,519,000 after acquiring an additional 3,022 shares during the last quarter. Finally, Florida Financial Advisors LLC grew its holdings in shares of PulteGroup by 26.2% in the third quarter. Florida Financial Advisors LLC now owns 3,958 shares of the construction company’s stock valued at $523,000 after purchasing an additional 821 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Down 1.7%

Shares of NYSE:PHM opened at $139.75 on Friday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $144.49. The firm’s 50-day moving average is $127.62 and its two-hundred day moving average is $126.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $26.88 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s payout ratio is presently 9.35%.

Insider Transactions at PulteGroup

In other news, insider Ryan Marshall sold 111,250 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the sale, the insider directly owned 659,392 shares of the company’s stock, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brien P. O’meara sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the sale, the vice president owned 8,601 shares of the company’s stock, valued at $1,165,521.51. This trade represents a 31.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 144,779 shares of company stock valued at $19,432,616 over the last ninety days. 0.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PHM has been the topic of a number of analyst reports. Zacks Research downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. Wall Street Zen upgraded PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. BTIG Research initiated coverage on PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating for the company. Finally, Evercore upped their price target on PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $140.15.

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.