Lombard Odier Asset Management USA Corp Acquires 7,482 Shares of PulteGroup, Inc. $PHM

Lombard Odier Asset Management USA Corp lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 74.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,480 shares of the construction company’s stock after purchasing an additional 7,482 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in PulteGroup were worth $2,310,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Private Wealth Management Group LLC grew its holdings in PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of PulteGroup during the second quarter worth $32,000. Rexford Capital Inc. acquired a new position in shares of PulteGroup in the 2nd quarter valued at $35,000. True Wealth Design LLC increased its position in shares of PulteGroup by 229.6% in the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after buying an additional 248 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in PulteGroup by 1,423.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock worth $52,000 after buying an additional 370 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Price Performance

NYSE PHM opened at $122.19 on Tuesday. The firm’s 50 day moving average is $131.11 and its 200-day moving average is $127.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $23.50 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $144.49.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s payout ratio is presently 9.35%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Raymond James Financial restated an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a report on Wednesday, February 4th. Wells Fargo & Company increased their target price on PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $149.00 price target (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Barclays set a $115.00 price objective on shares of PulteGroup in a research report on Monday, December 8th. Finally, Evercore boosted their price objective on shares of PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.71.

Insider Activity

In other news, VP Brien P. O’meara sold 4,000 shares of the firm’s 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 completion of the transaction, the vice president owned 8,601 shares in the company, valued at $1,165,521.51. This trade represents a 31.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.79, for a total value of $2,078,809.11. Following the completion of the sale, the chief operating officer directly owned 42,418 shares in the company, valued at approximately $5,759,940.22. This represents a 26.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 149,952 shares of company stock worth $20,162,165. 0.76% of the stock is currently owned by company insiders.

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.