CIBC Private Wealth Group LLC Buys 6,710 Shares of PulteGroup, Inc. $PHM

CIBC Private Wealth Group LLC grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 88.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 14,307 shares of the construction company’s stock after acquiring an additional 6,710 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in PulteGroup were worth $1,890,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. increased its position in shares of PulteGroup by 5.0% in the third quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock worth $1,704,513,000 after purchasing an additional 609,640 shares during the period. Norges Bank bought a new stake in PulteGroup during the second quarter worth about $404,339,000. First Trust Advisors LP lifted its position in PulteGroup by 13.3% during the third quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock worth $478,828,000 after purchasing an additional 424,011 shares during the period. Invesco Ltd. grew its stake in PulteGroup by 0.9% during the second quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock worth $277,811,000 after buying an additional 23,051 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in PulteGroup in the 3rd quarter valued at about $315,883,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of PulteGroup from $132.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Barclays set a $115.00 price objective on shares of PulteGroup in a research note on Monday, December 8th. Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. UBS Group restated a “buy” rating on shares of PulteGroup in a research note on Thursday, March 12th. Finally, Zacks Research lowered PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Trading Down 2.9%

Shares of PHM stock opened at $114.48 on Monday. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $144.49. The stock’s fifty day simple moving average is $130.66 and its 200 day simple moving average is $126.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $21.93 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.33 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. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s payout ratio is 9.35%.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 14,220 shares of PulteGroup stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the sale, the executive vice president directly owned 69,753 shares in the company, valued at $9,417,352.53. This trade represents a 16.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan Marshall sold 111,250 shares of the business’s stock in a transaction that occurred 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 directly owned 659,392 shares in the company, valued at $88,266,213.12. The trade was a 14.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 149,952 shares of company stock valued at $20,162,165. Corporate insiders own 0.75% 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.