Eastern Bank Decreases Stock Holdings in PulteGroup, Inc. $PHM

Eastern Bank lowered its position in PulteGroup, Inc. (NYSE:PHM) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 132,442 shares of the construction company’s stock after selling 4,965 shares during the period. Eastern Bank owned approximately 0.07% of PulteGroup worth $15,530,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in PulteGroup in the second quarter valued at approximately $404,339,000. Massachusetts Financial Services Co. MA acquired a new position in shares of PulteGroup during the third quarter worth $315,883,000. AGF Management Ltd. acquired a new position in shares of PulteGroup during the third quarter worth $174,347,000. American Century Companies Inc. lifted its holdings in shares of PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after purchasing an additional 930,287 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of PulteGroup by 27.2% during the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after purchasing an additional 683,728 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of several research analyst reports. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Citigroup increased their price target on PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. UBS Group reissued a “buy” rating on shares of PulteGroup in a report on Thursday, March 12th. Royal Bank Of Canada boosted 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. Finally, Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.71.

Insiders Place Their Bets

In other news, EVP Kevin A. Henry sold 5,173 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 value of $542,040.00. Following the sale, the vice president directly owned 8,601 shares of the company’s stock, valued at $1,165,521.51. This trade represents a 31.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 149,952 shares of company stock valued at $20,162,165. Insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

Shares of PHM opened at $114.68 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $129.18 and its 200-day moving average price is $126.29. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $144.49. The firm has a market capitalization of $21.97 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.32.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be issued 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 dividend yield of 0.9%. PulteGroup’s dividend payout ratio is currently 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.