Goldentree Asset Management LP Purchases New Shares in PulteGroup, Inc. $PHM

Goldentree Asset Management LP acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 303,092 shares of the construction company’s stock, valued at approximately $39,972,000. PulteGroup comprises 3.3% of Goldentree Asset Management LP’s investment portfolio, making the stock its 12th biggest holding. Goldentree Asset Management LP owned 0.16% of PulteGroup as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of PulteGroup in the 2nd quarter valued at about $404,339,000. Massachusetts Financial Services Co. MA bought a new stake in PulteGroup during the third quarter worth approximately $315,883,000. AGF Management Ltd. bought a new stake in PulteGroup during the third quarter worth approximately $174,347,000. American Century Companies Inc. raised its position in PulteGroup by 120.4% during the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after purchasing an additional 930,287 shares during the period. Finally, First Trust Advisors LP raised its position in PulteGroup by 27.2% during the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after purchasing an additional 683,728 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of recent research reports. Citizens Jmp began coverage on PulteGroup in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 target price for the company. Evercore increased their price target on PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Wells Fargo & Company lifted their price objective on shares of PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group boosted their price objective on shares of PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Stock Performance

PHM stock opened at $117.00 on Thursday. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $144.49. The business has a 50-day moving average price of $131.12 and a 200 day moving average price of $127.24. The company has a market capitalization of $22.42 billion, a P/E ratio of 10.52, a PEG ratio of 1.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01.

PulteGroup Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s payout ratio is currently 9.35%.

Insider Transactions at PulteGroup

In other news, COO Matthew William Koart sold 15,309 shares of the 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 transaction, the chief operating officer directly owned 42,418 shares in the company, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the transaction, the insider directly owned 659,392 shares in the company, valued at approximately $88,266,213.12. The trade was a 14.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 149,952 shares of company stock worth $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.