PulteGroup, Inc. $PHM Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its position in PulteGroup, Inc. (NYSE:PHM) by 10.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 58,854 shares of the construction company’s stock after purchasing an additional 5,582 shares during the period. Wedge Capital Management L L P NC’s holdings in PulteGroup were worth $6,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. Evergreen Capital Management LLC grew its holdings in shares of PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after buying an additional 78 shares in the last quarter. Apella Capital LLC lifted its stake in shares of PulteGroup by 4.2% in the third quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock worth $268,000 after buying an additional 87 shares in the last quarter. CWM LLC boosted its position in PulteGroup by 0.6% during the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock worth $1,890,000 after acquiring an additional 92 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in PulteGroup by 5.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company’s stock worth $229,000 after acquiring an additional 94 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in PulteGroup by 1.0% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,520 shares of the construction company’s stock valued at $1,390,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity

In related news, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the completion of the transaction, the vice president directly owned 8,601 shares in the company, valued at approximately $1,165,521.51. This represents a 31.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan Marshall sold 111,250 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total value of $14,891,925.00. Following the sale, the insider directly owned 659,392 shares of the company’s stock, valued at approximately $88,266,213.12. This trade represents a 14.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. BTIG Research began coverage on shares of PulteGroup in a report on Monday, December 1st. They issued a “neutral” rating for the company. Evercore boosted their target price on PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Citizens Jmp began coverage on PulteGroup in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price target for the company. Barclays set a $115.00 price target on PulteGroup in a report on Monday, December 8th. Finally, Wells Fargo & Company boosted their price objective on PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $142.71.

PulteGroup Price Performance

Shares of PHM stock opened at $114.68 on Friday. 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 firm’s 50-day moving average is $129.18 and its two-hundred day moving average is $126.29. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $144.49. The company has a market capitalization of $21.97 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.32.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is currently 9.35%.

PulteGroup 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.