Illinois Municipal Retirement Fund Sells 39,880 Shares of PulteGroup, Inc. $PHM

Illinois Municipal Retirement Fund cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 35.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,757 shares of the construction company’s stock after selling 39,880 shares during the period. Illinois Municipal Retirement Fund’s holdings in PulteGroup were worth $9,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in PulteGroup in the second quarter worth about $404,339,000. Massachusetts Financial Services Co. MA purchased a new position in PulteGroup during the 3rd quarter valued at $315,883,000. AGF Management Ltd. bought a new position in shares of PulteGroup in the third quarter worth about $174,347,000. First Trust Advisors LP increased its position in PulteGroup by 27.2% during the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after purchasing an additional 683,728 shares during the period. Finally, American Century Companies Inc. lifted its position in PulteGroup by 143.8% during the second quarter. American Century Companies Inc. now owns 772,762 shares of the construction company’s stock valued at $81,496,000 after acquiring an additional 455,754 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PHM. Oppenheimer reissued an “outperform” rating and issued a $149.00 price objective (up previously from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Citigroup increased their price target on PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Wedbush restated an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a research note on Tuesday, October 21st. Zacks Research downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Finally, Evercore increased their price objective on shares of PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $140.15.

PulteGroup Stock Down 0.3%

PulteGroup stock opened at $138.92 on Friday. The business’s 50-day simple moving average is $126.06 and its two-hundred day simple moving average is $125.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $26.72 billion, a PE ratio of 12.49, a PEG ratio of 1.59 and a beta of 1.33. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $142.65.

PulteGroup Dividend Announcement

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

Insider Buying and Selling at PulteGroup

In other news, COO Matthew William Koart sold 15,309 shares of the stock in a transaction on 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 sale, the chief operating officer owned 42,418 shares in the company, valued at $5,759,940.22. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $14,891,925.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 144,779 shares of company stock valued at $19,432,616. 0.76% of the stock is owned by corporate 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.