Myriad Asset Management US LP Decreases Stock Holdings in PulteGroup, Inc. $PHM

Myriad Asset Management US LP reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 74.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,289 shares of the construction company’s stock after selling 6,537 shares during the quarter. Myriad Asset Management US LP’s holdings in PulteGroup were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC lifted its position in shares of PulteGroup by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after acquiring an additional 78 shares during the period. Apella Capital LLC boosted its stake in shares of PulteGroup by 4.2% during the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock worth $268,000 after acquiring an additional 87 shares in the last quarter. CWM LLC grew its holdings in shares of PulteGroup by 0.6% in the 3rd 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 period. Perigon Wealth Management LLC grew its holdings in shares of PulteGroup by 3.6% in the 4th quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock worth $313,000 after acquiring an additional 92 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its stake in PulteGroup by 5.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company’s stock valued at $229,000 after purchasing an additional 94 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

PHM stock opened at $117.33 on Friday. The stock’s 50 day moving average price is $128.04 and its 200 day moving average price is $125.61. The firm has a market cap of $22.48 billion, a P/E ratio of 10.55, a PEG ratio of 1.36 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, Inc. has a 1 year low of $88.07 and a 1 year high of $144.49.

PulteGroup Dividend Announcement

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

Wall Street Analyst Weigh In

PHM has been the subject of several research reports. Barclays set a $115.00 price objective on PulteGroup in a report on Monday, December 8th. Raymond James Financial restated an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their price target on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Truist Financial assumed coverage on shares of PulteGroup in a research report on Wednesday, March 4th. They issued a “buy” rating and a $170.00 price objective on the stock. Finally, Citizens Jmp initiated coverage on shares of PulteGroup in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued 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 $142.71.

Insider Buying and Selling at PulteGroup

In related news, EVP Todd N. Sheldon sold 14,220 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the sale, the executive vice president owned 69,753 shares of the company’s stock, valued at $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the sale, the vice president owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. This represents a 31.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 149,952 shares of company stock valued at $20,162,165. 0.75% of the stock is owned by company insiders.

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.