Novem Group Acquires Shares of 8,298 PulteGroup, Inc. $PHM

Key Points

• Novem Group bought a new stake in PulteGroup (NYSE:PHM) of 8,298 shares in Q4, valued at approximately $973,000.
• Institutional investors own about 89.90% of PulteGroup, while insiders sold 149,952 shares totaling roughly $20,162,165 over the last three months, leaving insiders with about 0.75% ownership.
• Analysts have a consensus rating of Moderate Buy with a consensus price target of $138.79 (11 Buy, 6 Hold), after a mix of recent upgrades and downgrades.

Novem Group bought a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,298 shares of the construction company's stock, valued at approximately $973,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC grew its holdings in PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company's stock worth $36,000 after purchasing an additional 200 shares during the period. Beacon Financial Strategies CORP bought a new position in shares of PulteGroup during the fourth quarter valued at $40,000. Fulcrum Asset Management LLP bought a new position in PulteGroup in the 3rd quarter worth about $47,000. True Wealth Design LLC grew its position in PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company's stock valued at $47,000 after purchasing an additional 248 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in PulteGroup by 1,423.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company's stock valued at $52,000 after purchasing an additional 370 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PHM. Citizens Jmp initiated coverage on shares of PulteGroup in a report on Wednesday, January 7th. They set a "market outperform" rating and a $145.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of PulteGroup from $150.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. Evercore raised PulteGroup from an "in-line" rating to an "outperform" rating and set a $146.00 price target on the stock in a report on Monday, April 13th. Seaport Research Partners reaffirmed a "sell" rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Finally, Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and a consensus target price of $138.79.

Insider Transactions at PulteGroup

In related news, VP Brien P. O'meara sold 4,000 shares of the firm's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the transaction, the vice president directly owned 8,601 shares of the company's stock, valued at approximately $1,165,521.51. This trade represents a 31.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin A. Henry sold 5,173 shares of PulteGroup 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 transaction, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,952 shares of company stock worth $20,162,165 over the last three months. 0.75% of the stock is currently owned by insiders.

PulteGroup Trading Up 1.0%

Shares of NYSE:PHM opened at $128.71 on Wednesday. The stock has a market capitalization of $24.66 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The stock's 50-day simple moving average is $126.26 and its two-hundred day simple moving average is $124.69. PulteGroup, Inc. has a 52-week low of $94.93 and a 52-week high of $144.49.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup's payout ratio is presently 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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