Park Avenue Securities LLC Sells 7,432 Shares of PulteGroup, Inc. $PHM

Park Avenue Securities LLC trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 19.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,672 shares of the construction company’s stock after selling 7,432 shares during the quarter. Park Avenue Securities LLC’s holdings in PulteGroup were worth $3,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in 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 purchased a new position in shares of PulteGroup during the second quarter valued at approximately $404,339,000. First Trust Advisors LP boosted its position in shares of PulteGroup by 13.3% in the 3rd 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 in the last quarter. Invesco Ltd. boosted its position in shares of PulteGroup by 0.9% in the 2nd quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock worth $277,811,000 after purchasing an additional 23,051 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of PulteGroup in the 3rd quarter worth approximately $315,883,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHM has been the subject of a number of analyst reports. Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Citizens Jmp began coverage on PulteGroup in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 target price on the stock. Evercore raised their price target on PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Wells Fargo & Company lifted their price target on PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. One 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’s stock. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $142.71.

PulteGroup Stock Down 2.9%

PulteGroup stock opened at $114.48 on Monday. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $144.49. The stock has a fifty day simple moving average of $130.66 and a two-hundred day simple moving average of $126.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.33 and a beta of 1.32.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be given a $0.26 dividend. 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 payout ratio is 9.35%.

Insider Buying and Selling at PulteGroup

In other news, COO Matthew William Koart sold 15,309 shares of the firm’s 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 sale, the chief operating officer owned 42,418 shares of the company’s stock, 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 SEC, which is available through this link. Also, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This represents a 26.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is owned by company insiders.

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.