PulteGroup, Inc. $PHM Stock Holdings Lowered by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services trimmed its stake in PulteGroup by 2.1% to 2,340,218 shares (a 1.20% ownership) valued at about $274.4 million at quarter-end.
• Insiders have been net sellers, offloading 149,952 shares worth roughly $20.16 million in the past three months — including Todd N. Sheldon (14,220 shares) and Ryan Marshall (111,250 shares) — leaving insider ownership at about 0.75%.
• Analysts show mixed views but a consensus of Moderate Buy with an average price target of $140, as individual targets and ratings range from $112 (Barclays) up to $149 (Oppenheimer).

Massachusetts Financial Services Co. MA reduced its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,340,218 shares of the construction company's stock after selling 50,483 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.20% of PulteGroup worth $274,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC raised its holdings 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 worth $36,000 after purchasing an additional 200 shares in the last quarter. Rexford Capital Inc. acquired a new stake in shares of PulteGroup during the second quarter valued at approximately $35,000. Beacon Financial Strategies CORP acquired a new stake in shares of PulteGroup during the fourth quarter valued at approximately $40,000. Fulcrum Asset Management LLP acquired a new stake in shares of PulteGroup during the third quarter valued at approximately $47,000. Finally, True Wealth Design LLC raised its holdings in shares of PulteGroup by 229.6% during 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. 89.90% of the stock is currently owned by institutional investors.

Insider Activity

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 transaction of $1,919,842.20. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan Marshall sold 111,250 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the transaction, the insider directly 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 a total of 149,952 shares of company stock valued at $20,162,165 in the last three months. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PHM shares. Citigroup boosted their price target on shares of PulteGroup from $128.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, February 3rd. Raymond James Financial restated an "outperform" rating and set a $145.00 price target on shares of PulteGroup in a report on Wednesday, February 4th. Oppenheimer restated an "outperform" rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Barclays cut their price target on shares of PulteGroup from $115.00 to $112.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Citizens Jmp started 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. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

PulteGroup Stock Performance

Shares of PHM opened at $120.37 on Friday. The company's 50 day moving average price is $127.51 and its 200 day moving average price is $125.18. PulteGroup, Inc. has a 52 week low of $89.81 and a 52 week high of $144.49. The company has a market capitalization of $23.06 billion, a PE ratio of 10.82, a PEG ratio of 1.40 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.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors 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 yield of 0.9%. 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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