PulteGroup, Inc. $PHM Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP reduced its PulteGroup stake by 84.6% in Q3, selling 18,464 shares and leaving 3,363 shares valued at about $444,000.
• Large institutions are increasing exposure — notably Norges Bank (~$404M), Massachusetts Financial Services (~$316M) and AGF (~$174M) — and institutional investors now own 89.9% of the stock.
• Company insiders have been selling: COO Matthew Koart and EVP Todd Sheldon each sold sizable blocks on Feb. 6, and insiders have sold 149,952 shares (~$20.16M) in the past 90 days, leaving insiders with 0.76% ownership.

Quantbot Technologies LP lessened its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 84.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,363 shares of the construction company's stock after selling 18,464 shares during the quarter. Quantbot Technologies LP's holdings in PulteGroup were worth $444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of PulteGroup in the second quarter valued at approximately $404,339,000. Massachusetts Financial Services Co. MA acquired a new stake in PulteGroup during the 3rd quarter valued at $315,883,000. AGF Management Ltd. acquired a new position in shares of PulteGroup in the third quarter worth $174,347,000. First Trust Advisors LP lifted its position in shares of PulteGroup by 27.2% in the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company's stock valued at $337,462,000 after acquiring an additional 683,728 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of PulteGroup by 143.8% during the second quarter. American Century Companies Inc. now owns 772,762 shares of the construction company's stock valued at $81,496,000 after acquiring an additional 455,754 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other PulteGroup news, COO Matthew William Koart sold 15,309 shares of the company's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the sale, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 14,220 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 69,753 shares in the company, valued at approximately $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,952 shares of company stock valued at $20,162,165 in the last 90 days. 0.76% of the stock is owned by corporate insiders.

PulteGroup Stock Performance

Shares of PHM stock opened at $126.58 on Tuesday. 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 firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $144.49. The company has a 50 day moving average price of $130.76 and a 200 day moving average price of $127.73.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup's payout ratio is 9.35%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PHM. Wall Street Zen upgraded shares of PulteGroup from a "sell" rating to a "hold" rating in a report on Sunday, January 11th. The Goldman Sachs Group upped their price objective 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. Citizens Jmp assumed coverage on shares of PulteGroup in a research note on Wednesday, January 7th. They issued a "market outperform" rating and a $145.00 target price for the company. JPMorgan Chase & Co. cut their price target on PulteGroup from $149.00 to $131.00 and set an "overweight" rating for the company in a report on Tuesday, February 3rd. Finally, Raymond James Financial restated an "outperform" rating and set a $145.00 price objective on shares of PulteGroup in a report on Wednesday, February 4th. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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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