Legal & General Group Plc Has $182.77 Million Stock Position in PulteGroup, Inc. $PHM

Key Points

• Legal & General trimmed its PulteGroup stake by 6.1% in Q3, leaving it with 1,383,260 shares (about 0.71% of the company) valued at roughly $182.77 million.
• Insider selling has been notable: executives including Todd N. Sheldon and Ryan Marshall sold a combined 149,952 shares in the last three months (about $20.16M), leaving insiders with approximately 0.76% ownership.
• Analyst outlook & dividend: the stock carries a "Moderate Buy" consensus with an average price target of $142.71, and PulteGroup announced a $0.26 quarterly dividend (annualized $1.04, ~0.9% yield).

Legal & General Group Plc decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,383,260 shares of the construction company's stock after selling 89,283 shares during the quarter. Legal & General Group Plc owned about 0.71% of PulteGroup worth $182,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PHM. Evergreen Capital Management LLC boosted its holdings in PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company's stock valued at $304,000 after purchasing an additional 78 shares during the period. Apella Capital LLC increased its holdings in shares of PulteGroup by 4.2% during the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company's stock worth $268,000 after purchasing an additional 87 shares during the period. CWM LLC raised its position in shares of PulteGroup by 0.6% during the third quarter. CWM LLC now owns 14,308 shares of the construction company's stock valued at $1,890,000 after buying an additional 92 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of PulteGroup by 5.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company's stock valued at $229,000 after buying an additional 94 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of PulteGroup by 1.0% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,520 shares of the construction company's stock valued at $1,390,000 after buying an additional 100 shares during the period. Institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PHM shares. Raymond James Financial restated an "outperform" rating and set a $145.00 price target on shares of PulteGroup in a research note on Wednesday, February 4th. Barclays set a $115.00 price objective on PulteGroup in a report on Monday, December 8th. Evercore boosted their price objective on PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. BTIG Research assumed coverage on PulteGroup in a research note on Monday, December 1st. They issued a "neutral" rating for the company. Finally, UBS Group reaffirmed a "buy" rating on shares of PulteGroup in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.71.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 14,220 shares of the business's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.01, for a total value of $1,919,842.20. Following the completion of the transaction, the executive vice president owned 69,753 shares in the company, valued at $9,417,352.53. The trade was a 16.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan Marshall sold 111,250 shares of the stock in a transaction on 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 transaction, the insider owned 659,392 shares in the company, valued at $88,266,213.12. The trade was a 14.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 149,952 shares of company stock valued at $20,162,165 in the last three months. 0.76% of the stock is currently owned by corporate insiders.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $120.32 on Friday. The business has a fifty day moving average of $131.06 and a 200-day moving average of $127.59. The firm has a market cap of $23.14 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.43 and a beta of 1.32. 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, Inc. has a twelve month low of $88.07 and a twelve month high of $144.49.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be paid 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 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.

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