Assetmark Inc. Sells 57,093 Shares of PulteGroup, Inc. $PHM

Assetmark Inc. trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 599,391 shares of the construction company’s stock after selling 57,093 shares during the period. Assetmark Inc. owned approximately 0.31% of PulteGroup worth $79,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Railway Pension Investments Ltd boosted its position in shares of 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 acquiring an additional 3,200 shares during the period. Nisa Investment Advisors LLC boosted its holdings in PulteGroup by 10.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after purchasing an additional 10,028 shares during the period. Principal Financial Group Inc. grew its position in shares of PulteGroup by 24.2% during the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock valued at $41,348,000 after purchasing an additional 61,009 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of PulteGroup during the 2nd quarter valued at $2,162,000. Finally, Osaic Holdings Inc. increased its holdings in shares of PulteGroup by 129.5% in the second quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock worth $15,778,000 after purchasing an additional 85,637 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

PHM opened at $138.92 on Friday. 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 stock’s 50 day simple moving average is $126.06 and its 200 day simple moving average is $125.97. The firm has a market cap of $26.72 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.59 and a beta of 1.33. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.65.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s dividend payout ratio is currently 9.35%.

Analyst Ratings Changes

Several equities analysts recently commented on PHM shares. Evercore boosted their target price on PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. JPMorgan Chase & Co. dropped their price target on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. BTIG Research started coverage on PulteGroup in a report on Monday, December 1st. They set a “neutral” rating for the company. Royal Bank Of Canada upped their price objective on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $149.00 target price (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.15.

Insider Activity

In other news, COO Matthew William Koart sold 15,309 shares of the stock in a transaction dated 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 directly owned 42,418 shares in the company, valued at approximately $5,759,940.22. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan Marshall sold 111,250 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the transaction, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 144,779 shares of company stock worth $19,432,616. 0.76% of the stock is currently owned by corporate insiders.

About PulteGroup

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.