Drucker Wealth 3.0 LLC Boosts Holdings in PulteGroup, Inc. $PHM

Drucker Wealth 3.0 LLC grew its stake in PulteGroup, Inc. (NYSE:PHM) by 115.1% during the 3rd quarter, Holdings Channel reports. The firm owned 14,098 shares of the construction company’s stock after purchasing an additional 7,543 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in PulteGroup were worth $1,863,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. NEOS Investment Management LLC boosted its holdings in PulteGroup by 51.5% in the 3rd quarter. NEOS Investment Management LLC now owns 25,831 shares of the construction company’s stock worth $3,413,000 after buying an additional 8,776 shares during the last quarter. Merit Financial Group LLC increased its position in shares of PulteGroup by 6.3% during the third quarter. Merit Financial Group LLC now owns 21,446 shares of the construction company’s stock worth $2,834,000 after purchasing an additional 1,278 shares in the last quarter. Fifth Third Bancorp raised its stake in PulteGroup by 1.5% in the 3rd quarter. Fifth Third Bancorp now owns 7,571 shares of the construction company’s stock valued at $1,000,000 after purchasing an additional 115 shares during the last quarter. Petra Financial Advisors Inc. purchased a new position in PulteGroup in the 3rd quarter valued at $920,000. Finally, PNC Financial Services Group Inc. boosted its stake in PulteGroup by 6.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 49,336 shares of the construction company’s stock worth $6,519,000 after purchasing an additional 3,022 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other news, EVP Todd N. Sheldon sold 14,220 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.01, for a total value of $1,919,842.20. Following the transaction, the executive vice president directly owned 69,753 shares in the company, valued at approximately $9,417,352.53. This represents a 16.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction that occurred on Friday, February 6th. The shares were 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. This trade represents a 26.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 144,779 shares of company stock valued at $19,432,616. 0.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PHM shares. Citigroup raised their price target on shares of PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. BTIG Research initiated coverage on shares of PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. UBS Group lowered their target price on PulteGroup from $160.00 to $159.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. Finally, Evercore boosted their price objective 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $140.15.

PulteGroup Stock Performance

NYSE PHM opened at $141.55 on Wednesday. The stock has a fifty day simple moving average of $127.09 and a 200-day simple moving average of $126.69. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $27.22 billion, a PE ratio of 12.73, a P/E/G ratio of 1.66 and a beta of 1.33. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $144.50.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup’s dividend payout ratio (DPR) 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.