PulteGroup, Inc. $PHM Shares Sold by Clough Capital Partners L P

Key Points

• Clough Capital Partners cut its PulteGroup stake by 12.8% in Q3 to 258,964 shares (≈$34.2M), making PHM its 10th-largest holding, while institutional investors own about 89.9% of the stock.
• Insider selling has been significant: EVP Ryan Marshall sold 111,250 shares for roughly $14.9M, and insiders have sold 149,952 shares (~$20.16M) in the past 90 days; insiders now own 0.76% of the company.
• PulteGroup announced a quarterly dividend of $0.26 per share (annualized $1.04, yield 0.9%, ex-dividend March 17), and analysts hold a consensus "Moderate Buy" with an average target price of $142.71.

Clough Capital Partners L P decreased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,964 shares of the construction company's stock after selling 38,150 shares during the quarter. PulteGroup accounts for approximately 3.0% of Clough Capital Partners L P's holdings, making the stock its 10th largest holding. Clough Capital Partners L P owned 0.13% of PulteGroup worth $34,217,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in PulteGroup in the 2nd quarter valued at approximately $32,000. Rexford Capital Inc. bought a new stake in PulteGroup in the 2nd quarter valued at approximately $35,000. Private Wealth Management Group LLC boosted its position in PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company's stock worth $36,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC boosted 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 worth $47,000 after acquiring an additional 248 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in shares of PulteGroup by 1,423.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company's stock worth $52,000 after acquiring an additional 370 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Ryan Marshall sold 111,250 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the transaction, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. This trade represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd N. Sheldon sold 14,220 shares of PulteGroup stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.01, for a total value of $1,919,842.20. Following the sale, the executive vice president directly owned 69,753 shares of the company's stock, valued at approximately $9,417,352.53. The trade was a 16.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 149,952 shares of company stock valued at $20,162,165 in the last ninety days. 0.76% of the stock is currently owned by company insiders.

PulteGroup Stock Down 1.1%

Shares of PHM opened at $119.14 on Friday. The firm has a market cap of $22.91 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 1.38 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 52 week low of $88.07 and a 52 week high of $144.49. The firm's 50-day simple moving average is $131.06 and its 200 day simple moving average is $127.47.

PulteGroup Announces Dividend

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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, March 17th. PulteGroup's payout ratio is currently 9.35%.

Analyst Ratings Changes

PHM has been the topic of a number of research reports. Raymond James Financial reissued an "outperform" rating and issued a $145.00 price objective on shares of PulteGroup in a research report on Wednesday, February 4th. UBS Group reaffirmed a "buy" rating on shares of PulteGroup in a research report on Thursday. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $144.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday, February 17th. BTIG Research initiated coverage on shares of PulteGroup in a research note on Monday, December 1st. They set a "neutral" rating for the company. Finally, Citigroup raised their price objective on PulteGroup from $128.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, February 3rd. One equities research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $142.71.

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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