Franklin Resources Inc. Acquires 609,640 Shares of PulteGroup, Inc. $PHM

Franklin Resources Inc. lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,900,271 shares of the construction company’s stock after purchasing an additional 609,640 shares during the period. Franklin Resources Inc. owned about 6.62% of PulteGroup worth $1,704,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Private Wealth Management Group LLC raised its stake in PulteGroup by 281.7% in 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. Twin Peaks Wealth Advisors LLC purchased a new stake in PulteGroup during the second quarter worth $32,000. Rexford Capital Inc. bought a new stake in PulteGroup during the 2nd quarter valued at $35,000. 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 valued at $47,000 after acquiring an additional 248 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of PulteGroup by 1,423.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after acquiring an additional 370 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup boosted their price target on PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Oppenheimer reiterated an “outperform” rating and issued a $149.00 target price (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Raymond James Financial reiterated an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.71.

PulteGroup Stock Performance

Shares of PHM stock opened at $124.29 on Wednesday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $144.49. The business’s fifty day simple moving average is $130.88 and its 200-day simple moving average is $127.67. 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 company has a market cap of $23.91 billion, a PE ratio of 11.18, a PEG ratio of 1.47 and a beta of 1.32.

PulteGroup Dividend Announcement

The firm 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. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio is currently 9.35%.

Insider Activity at PulteGroup

In other news, insider Ryan Marshall sold 111,250 shares of the business’s stock in a transaction dated 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 sale, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the executive vice president owned 69,753 shares in the company, valued at $9,417,352.53. The trade was a 16.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 149,952 shares of company stock worth $20,162,165 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

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.