Ritholtz Wealth Management Boosts Stake in PulteGroup, Inc. $PHM

Key Points

• Ritholtz Wealth Management boosted its stake in PulteGroup by 43.2% in Q4, buying an additional 27,590 shares to hold 91,473 shares worth about $10.73 million.
• Company insiders sold 149,952 shares in the past three months (≈$20.16 million), even as hedge funds and institutional investors own roughly 89.9% of the stock and insiders hold 0.75%.
• PulteGroup has a market cap of $23.06B and a P/E of 10.82; analysts' consensus is a "Moderate Buy" with an average target of $140, and the company pays a quarterly dividend of $0.26 (annualized $1.04, yield 0.9%).

Ritholtz Wealth Management raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 43.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,473 shares of the construction company's stock after buying an additional 27,590 shares during the quarter. Ritholtz Wealth Management's holdings in PulteGroup were worth $10,726,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC grew its position in PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company's stock worth $36,000 after buying an additional 200 shares in the last quarter. Rexford Capital Inc. purchased a new position in PulteGroup during the second quarter worth about $35,000. Beacon Financial Strategies CORP purchased a new position in PulteGroup during the fourth quarter worth about $40,000. Fulcrum Asset Management LLP purchased a new position in PulteGroup during the third quarter worth about $47,000. Finally, True Wealth Design LLC grew its position in PulteGroup by 229.6% during the third quarter. True Wealth Design LLC now owns 356 shares of the construction company's stock worth $47,000 after buying an additional 248 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 14,220 shares of the business'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 sale, the executive vice president 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin A. Henry sold 5,173 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the sale, the executive vice president directly owned 14,673 shares of the company's stock, valued at approximately $2,069,333.19. This trade represents a 26.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 149,952 shares of company stock worth $20,162,165. Company insiders own 0.75% of the company's stock.

PulteGroup Price Performance

PHM opened at $120.37 on Friday. The stock has a 50-day moving average price of $127.51 and a 200-day moving average price of $125.22. PulteGroup, Inc. has a 12-month low of $89.81 and a 12-month high of $144.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $23.06 billion, a P/E ratio of 10.82, a PEG ratio of 1.42 and a beta of 1.33.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, March 17th. PulteGroup's dividend payout ratio is presently 9.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PHM shares. UBS Group restated a "buy" rating on shares of PulteGroup in a research report on Thursday, March 12th. Wells Fargo & Company reduced their target price on PulteGroup from $150.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday. Wall Street Zen upgraded PulteGroup from a "sell" rating to a "hold" rating in a research report on Sunday, January 11th. JPMorgan Chase & Co. cut their price objective 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 reiterated an "outperform" rating and issued a $145.00 price objective on shares of PulteGroup in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $140.00.

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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