Shell Asset Management Co. Sells 9,567 Shares of PulteGroup, Inc. $PHM

Shell Asset Management Co. lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 53.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,485 shares of the construction company’s stock after selling 9,567 shares during the period. Shell Asset Management Co.’s holdings in PulteGroup were worth $1,121,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PHM. Railway Pension Investments Ltd boosted its stake in shares of PulteGroup by 2.4% in the 2nd quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock valued at $14,526,000 after purchasing an additional 3,200 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in PulteGroup by 10.5% in the third quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after buying an additional 10,028 shares during the period. Principal Financial Group Inc. boosted its position in PulteGroup by 24.2% during the third quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock valued at $41,348,000 after acquiring an additional 61,009 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in PulteGroup during the 2nd quarter worth about $2,162,000. Finally, Osaic Holdings Inc. raised its position in shares of PulteGroup by 129.5% in the 2nd quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock worth $15,778,000 after acquiring an additional 85,637 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling

In other news, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.51, for a total value of $542,040.00. Following the completion of the sale, the vice president owned 8,601 shares in the company, valued at $1,165,521.51. This represents a 31.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction dated 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 in the company, valued at $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. Over the last three months, insiders have sold 144,779 shares of company stock worth $19,432,616. 0.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PHM has been the subject of several recent analyst reports. BTIG Research started coverage on PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating for the company. Oppenheimer reiterated an “outperform” rating and set a $149.00 target price (up previously from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Evercore raised their price target on shares of PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada raised their target price on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.15.

PulteGroup Stock Up 2.5%

Shares of NYSE PHM opened at $142.42 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50-day moving average price of $126.37 and a 200-day moving average price of $126.30. The stock has a market capitalization of $27.39 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.66 and a beta of 1.33. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $143.66.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. PulteGroup’s payout ratio is presently 9.35%.

About PulteGroup

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.