Elevation Point Wealth Partners LLC Purchases 6,951 Shares of PulteGroup, Inc. $PHM

Elevation Point Wealth Partners LLC grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 723.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,912 shares of the construction company’s stock after purchasing an additional 6,951 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in PulteGroup were worth $1,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Railway Pension Investments Ltd increased its holdings in PulteGroup by 2.4% in the second quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock valued at $14,526,000 after purchasing an additional 3,200 shares during the period. Principal Financial Group Inc. lifted its holdings in PulteGroup by 24.2% during the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock worth $41,348,000 after buying an additional 61,009 shares during the period. Nisa Investment Advisors LLC lifted its holdings in PulteGroup by 10.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after buying an additional 10,028 shares during the period. Envestnet Asset Management Inc. grew its position in shares of PulteGroup by 16.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock valued at $49,050,000 after buying an additional 51,506 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of PulteGroup by 129.5% in the 2nd quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock valued at $15,778,000 after buying an additional 85,637 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PHM shares. Royal Bank Of Canada raised their price objective on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Zacks Research cut PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Truist Financial began coverage on shares of PulteGroup in a research report on Wednesday, March 4th. They set a “buy” rating and a $170.00 target price for the company. Evercore raised their price target on shares of PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Finally, Citizens Jmp initiated coverage on shares of PulteGroup in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $142.71.

PulteGroup Stock Up 2.5%

Shares of NYSE:PHM opened at $122.19 on Tuesday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $144.49. 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 business’s 50-day moving average is $131.11 and its 200-day moving average is $127.38. The company has a market capitalization of $23.50 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.38 and a beta of 1.32.

PulteGroup Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is 9.35%.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $135.51, for a total transaction of $542,040.00. Following the transaction, the vice president directly owned 8,601 shares of the company’s stock, valued at $1,165,521.51. This represents a 31.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew William Koart sold 15,309 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer owned 42,418 shares of the company’s stock, valued at $5,759,940.22. The trade was a 26.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 149,952 shares of company stock worth $20,162,165 over the last ninety days. 0.76% of the stock is owned by company 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.