Aberdeen Group plc Decreases Position in PulteGroup, Inc. $PHM

Aberdeen Group plc lessened its position in PulteGroup, Inc. (NYSE:PHM) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,043 shares of the construction company’s stock after selling 3,955 shares during the period. Aberdeen Group plc’s holdings in PulteGroup were worth $8,127,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of PulteGroup during the second quarter valued at approximately $32,000. Rexford Capital Inc. bought a new position in PulteGroup in the 2nd quarter valued at approximately $35,000. Private Wealth Management Group LLC boosted its stake in PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC boosted its stake in PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after purchasing an additional 248 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of PulteGroup by 1,423.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock worth $52,000 after purchasing an additional 370 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PHM shares. JPMorgan Chase & Co. lowered 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. The Goldman Sachs Group reissued a “neutral” rating and set a $144.00 price objective on shares of PulteGroup in a report on Tuesday, January 13th. Citizens Jmp assumed coverage on shares of PulteGroup in a report on Wednesday, January 7th. They issued 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. Finally, Raymond James Financial reiterated an “outperform” rating and set a $145.00 target price on shares of PulteGroup in a research note on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.15.

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.79, for a total value of $2,078,809.11. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 14,220 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.01, for a total value of $1,919,842.20. Following the sale, the executive vice president owned 69,753 shares of the company’s stock, valued at $9,417,352.53. This represents a 16.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 144,779 shares of company stock valued at $19,432,616 in the last ninety days. Insiders own 0.76% of the company’s stock.

PulteGroup Trading Up 0.2%

Shares of NYSE:PHM opened at $139.95 on Friday. The stock has a 50 day moving average of $127.90 and a 200 day moving average of $127.02. The company has a market cap of $26.92 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.33. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-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 declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be paid a $0.26 dividend. 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 presently 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.