Korea Investment CORP Has $18.37 Million Stake in PulteGroup, Inc. $PHM

Key Points

• Korea Investment CORP cut its PulteGroup stake by 30.8% in Q3 to 139,042 shares, valued at about $18.37 million (roughly 0.07% of the company).
• Company insiders sold 149,952 shares worth about $20.16 million over the past 90 days (including sales by EVPs Todd Sheldon and Kevin Henry), leaving insiders with 0.76% ownership.
• Analysts have an average rating of "Moderate Buy" with an average price target of $142.71; PulteGroup has a market cap of ~$23.9B, a PE of 11.18, and recently announced a quarterly dividend of $0.26 (0.8% yield).

Korea Investment CORP reduced its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,042 shares of the construction company's stock after selling 61,922 shares during the quarter. Korea Investment CORP owned approximately 0.07% of PulteGroup worth $18,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PHM. Private Wealth Management Group LLC raised its stake in shares of PulteGroup by 281.7% in 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 acquired a new stake in shares of PulteGroup during the 2nd quarter valued at about $32,000. Rexford Capital Inc. acquired a new stake in shares of PulteGroup during the 2nd quarter valued at about $35,000. True Wealth Design LLC increased its stake in PulteGroup by 229.6% in the third 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 period. Finally, SJS Investment Consulting Inc. increased its stake in PulteGroup by 1,423.1% in the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company's stock valued at $52,000 after acquiring an additional 370 shares during the period. Institutional investors own 89.90% of the company's stock.

Insider Buying and Selling at PulteGroup

In related news, EVP Todd N. Sheldon sold 14,220 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the sale, the executive vice president directly owned 69,753 shares in the company, valued at $9,417,352.53. This represents a 16.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin A. Henry sold 5,173 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the sale, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders sold 149,952 shares of company stock worth $20,162,165 over the last 90 days. Company insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Oppenheimer restated an "outperform" rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Citizens Jmp assumed coverage on PulteGroup in a research note on Wednesday, January 7th. They issued a "market outperform" rating and a $145.00 price objective on the stock. Evercore increased their target price on PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Raymond James Financial restated an "outperform" rating and set a $145.00 target price on shares of PulteGroup in a research report on Wednesday, February 4th. Finally, Barclays set a $115.00 price target on PulteGroup in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.71.

PulteGroup Price Performance

NYSE:PHM opened at $124.29 on Wednesday. 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 has a market cap of $23.91 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.47 and a beta of 1.32. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $144.49. The company's 50-day moving average price is $130.88 and its two-hundred day moving average price is $127.67.

PulteGroup Announces Dividend

The firm also recently announced 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. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup's 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.

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