Boothbay Fund Management LLC Takes Position in PulteGroup, Inc. $PHM

Boothbay Fund Management LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 29,082 shares of the construction company’s stock, valued at approximately $3,843,000.

Several other large investors also recently bought and sold shares of PHM. Private Wealth Management Group LLC raised its holdings in shares of PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of PulteGroup during the second quarter valued at $32,000. Rexford Capital Inc. acquired a new position in shares of PulteGroup in the 2nd quarter valued at $35,000. True Wealth Design LLC increased its position in shares of PulteGroup by 229.6% in the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after acquiring an additional 248 shares during the period. Finally, SJS Investment Consulting Inc. raised its stake in 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 acquiring an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PHM. BTIG Research initiated coverage on PulteGroup in a research report on Monday, December 1st. They set a “neutral” rating for the company. Royal Bank Of Canada raised their price objective on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. 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. Finally, The Goldman Sachs Group raised their price target on shares of PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. One 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.71.

PulteGroup Trading Up 2.5%

Shares of NYSE:PHM opened at $122.19 on Tuesday. 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, Inc. has a 12-month low of $88.07 and a 12-month high of $144.49. The business has a 50 day moving average of $131.11 and a two-hundred day moving average of $127.38. The company has a market capitalization of $23.50 billion, a PE ratio of 10.99, a PEG ratio of 1.38 and a beta of 1.32.

PulteGroup Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. PulteGroup’s dividend payout ratio is 9.35%.

Insider Activity

In other PulteGroup news, EVP Todd N. Sheldon sold 14,220 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 69,753 shares in the company, valued at approximately $9,417,352.53. This represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Matthew William Koart sold 15,309 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the sale, the chief operating officer directly owned 42,418 shares in the company, valued at approximately $5,759,940.22. The trade was a 26.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 149,952 shares of company stock valued at $20,162,165 in the last three months. Corporate 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.