Rafferty Asset Management LLC Buys 135,069 Shares of PulteGroup, Inc. $PHM

Rafferty Asset Management LLC increased its stake in PulteGroup, Inc. (NYSE:PHM) by 74.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 315,414 shares of the construction company’s stock after purchasing an additional 135,069 shares during the period. Rafferty Asset Management LLC owned approximately 0.16% of PulteGroup worth $41,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHM. Private Wealth Management Group LLC boosted its position in shares of PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after buying an additional 200 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in PulteGroup in the 2nd quarter valued at approximately $32,000. Rexford Capital Inc. bought a new stake in PulteGroup in the 2nd quarter valued at approximately $35,000. True Wealth Design LLC boosted its position in PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after acquiring an additional 248 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in shares of PulteGroup by 1,423.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock worth $52,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This trade represents a 26.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 14,220 shares of PulteGroup stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the transaction, the executive vice president directly owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 149,952 shares of company stock valued at $20,162,165. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Raymond James Financial reissued an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. Citizens Jmp began coverage on shares of PulteGroup in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price objective for the company. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Finally, Oppenheimer reiterated an “outperform” rating and set a $149.00 target price (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $140.62.

PulteGroup Stock Up 1.1%

Shares of PHM stock opened at $137.09 on Friday. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $144.49. The stock has a market cap of $26.37 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.58 and a beta of 1.33. The firm’s 50-day moving average is $129.37 and its 200-day moving average is $127.61. 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 Dividend Announcement

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

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.