First Trust Advisors LP Has $478.83 Million Stake in PulteGroup, Inc. $PHM

First Trust Advisors LP lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 13.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,623,917 shares of the construction company’s stock after buying an additional 424,011 shares during the period. First Trust Advisors LP owned approximately 1.86% of PulteGroup worth $478,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PHM. Private Wealth Management Group LLC raised its holdings in PulteGroup by 281.7% in the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of PulteGroup during the 2nd quarter worth $32,000. Rexford Capital Inc. bought a new position in shares of PulteGroup in the second quarter worth $35,000. True Wealth Design LLC raised its stake in PulteGroup by 229.6% in the third 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 in the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in PulteGroup by 1,423.1% in the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Down 1.3%

PHM opened at $127.95 on Friday. The company has a market cap of $24.61 billion, a P/E ratio of 11.51, a PEG ratio of 1.51 and a beta of 1.32. 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 company’s 50 day moving average is $130.60 and its 200-day moving average is $127.73. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $144.49.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s payout ratio is presently 9.35%.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a report on Wednesday, February 4th. Evercore boosted their price objective on shares of PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. Truist Financial started coverage on PulteGroup in a research note on Wednesday. They set a “buy” rating and a $170.00 target price for the company. Barclays set a $115.00 target price on PulteGroup in a report on Monday, December 8th. Finally, The Goldman Sachs Group lifted their price target on PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.71.

Insider Activity

In related news, insider Ryan Marshall sold 111,250 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the sale, the insider owned 659,392 shares of the company’s stock, valued at $88,266,213.12. This trade represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction on 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 sale, the chief operating officer owned 42,418 shares in the company, valued at $5,759,940.22. This represents a 26.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 149,952 shares of company stock valued at $20,162,165. 0.76% of the stock is currently owned by insiders.

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.