PulteGroup, Inc. $PHM Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co increased its position in PulteGroup, Inc. (NYSE:PHM) by 121.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,032 shares of the construction company’s stock after buying an additional 13,182 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PulteGroup were worth $3,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in PulteGroup during the second quarter worth about $32,000. Rexford Capital Inc. acquired a new position in shares of PulteGroup in the 2nd quarter valued at about $35,000. Private Wealth Management Group LLC grew its holdings in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC increased 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 purchasing an additional 248 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised 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 buying an additional 370 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

PHM has been the subject of several research reports. Oppenheimer reiterated an “outperform” rating and set a $149.00 price objective (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Citizens Jmp assumed coverage on shares of PulteGroup in a report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 target price 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. Evercore increased their price target on PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Finally, BTIG Research initiated coverage on PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating on the stock. Nine equities research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $140.62.

PulteGroup Price Performance

PHM opened at $132.01 on Wednesday. The company has a fifty day simple moving average of $129.96 and a 200 day simple moving average of $127.68. The firm has a market cap of $25.39 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.56 and a beta of 1.32. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $144.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

PulteGroup Dividend Announcement

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

Insiders Place Their Bets

In other PulteGroup news, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the sale, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. The trade was a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares in the company, valued at approximately $2,069,333.19. The trade was a 26.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 149,952 shares of company stock valued at $20,162,165. Insiders own 0.76% of the company’s stock.

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.