Allspring Global Investments Holdings LLC Reduces Holdings in PulteGroup, Inc. $PHM

Allspring Global Investments Holdings LLC trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 49.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 443,244 shares of the construction company’s stock after selling 426,328 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.23% of PulteGroup worth $52,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of PulteGroup in the second quarter valued at about $32,000. Rexford Capital Inc. bought a new position in shares of PulteGroup during the second quarter valued at about $35,000. Private Wealth Management Group LLC boosted its holdings in shares of PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after purchasing an additional 200 shares during the period. Beacon Financial Strategies CORP bought a new stake in shares of PulteGroup in the fourth quarter worth about $40,000. Finally, True Wealth Design LLC grew its stake in shares of PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after purchasing an additional 248 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PulteGroup

In related news, COO Matthew William Koart sold 15,309 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.79, for a total value of $2,078,809.11. Following the completion of the transaction, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. This trade represents a 26.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction dated Friday, February 6th. The shares were 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 trade 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 three months, insiders have sold 149,952 shares of company stock valued at $20,162,165. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Zacks Research lowered PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Raymond James Financial reiterated an “outperform” rating and issued a $145.00 price objective on shares of PulteGroup in a research report on Wednesday, February 4th. Truist Financial began coverage on PulteGroup in a research note on Wednesday, March 4th. They set a “buy” rating and a $170.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada raised their price target on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Stock Down 0.4%

PHM stock opened at $117.18 on Thursday. 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 capitalization of $22.45 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 1.37 and a beta of 1.33. The business’s 50 day moving average price is $128.41 and its two-hundred day moving average price is $125.85. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be issued a $0.26 dividend. The ex-dividend date 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%.

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.