DAVENPORT & Co LLC Decreases Stock Position in PulteGroup, Inc. $PHM

DAVENPORT & Co LLC decreased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 39.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,209 shares of the construction company’s stock after selling 7,999 shares during the period. DAVENPORT & Co LLC’s holdings in PulteGroup were worth $1,432,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC grew its holdings 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 buying an additional 200 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in PulteGroup in the 2nd quarter worth approximately $32,000. Rexford Capital Inc. purchased a new stake in shares of PulteGroup during the 2nd quarter worth approximately $35,000. Fulcrum Asset Management LLP bought a new position in shares of PulteGroup during the 3rd quarter valued at approximately $47,000. Finally, True Wealth Design LLC boosted its position in shares of 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 acquiring an additional 248 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PHM has been the subject of a number of recent research reports. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Wells Fargo & Company increased their price objective 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. Wall Street Zen raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Raymond James Financial restated an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada upped their target price on shares of PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $142.71.

Insider Transactions at PulteGroup

In related news, COO Matthew William Koart sold 15,309 shares of PulteGroup 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 transaction, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at approximately $5,759,940.22. The trade was a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the transaction, the vice president directly owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. This represents a 31.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is currently owned by insiders.

PulteGroup Stock Performance

NYSE PHM opened at $114.68 on Monday. The business’s 50 day moving average price is $129.18 and its 200-day moving average price is $126.23. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $144.49. The company has a market cap of $21.97 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.33 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio is currently 9.35%.

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.