Citigroup Inc. Grows Stock Holdings in PulteGroup, Inc. $PHM

Citigroup Inc. raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 28.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 754,102 shares of the construction company’s stock after acquiring an additional 167,533 shares during the quarter. Citigroup Inc. owned about 0.39% of PulteGroup worth $99,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Railway Pension Investments Ltd increased its holdings in shares of PulteGroup by 2.4% in the second quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after purchasing an additional 3,200 shares during the period. Nisa Investment Advisors LLC raised its position in shares of PulteGroup by 10.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after buying an additional 10,028 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of PulteGroup by 24.2% during the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock worth $41,348,000 after acquiring an additional 61,009 shares during the last quarter. Envestnet Asset Management Inc. grew its position in PulteGroup by 16.1% in the third quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock worth $49,050,000 after acquiring an additional 51,506 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in PulteGroup by 129.5% in the second quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock valued at $15,778,000 after acquiring an additional 85,637 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Insider Activity at PulteGroup

In other PulteGroup news, insider Ryan Marshall sold 111,250 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the sale, the insider directly owned 659,392 shares in the company, valued at $88,266,213.12. This trade represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction that occurred on 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 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. Over the last ninety days, insiders have sold 144,779 shares of company stock valued at $19,432,616. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PHM. Citizens Jmp began coverage on PulteGroup in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price target for the company. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Barclays set a $115.00 price target on shares of PulteGroup in a research report on Monday, December 8th. Citigroup lifted their price target on shares of PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Evercore upped their price objective on shares of PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.62.

PulteGroup Stock Performance

NYSE:PHM opened at $139.95 on Monday. 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’s fifty day simple moving average is $127.90 and its 200 day simple moving average is $127.11. The stock has a market cap of $26.92 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.33. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $144.49.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio is presently 9.35%.

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.