Foster & Motley Inc. Has $7.85 Million Position in PulteGroup, Inc. $PHM

Foster & Motley Inc. cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,901 shares of the construction company’s stock after selling 4,891 shares during the period. Foster & Motley Inc.’s holdings in PulteGroup were worth $7,845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its stake in PulteGroup by 2.4% in the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock valued at $67,387,000 after purchasing an additional 13,259 shares during the last quarter. Principal Financial Group Inc. raised its position in PulteGroup by 24.2% during the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock worth $41,348,000 after purchasing an additional 61,009 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of PulteGroup by 10.5% during the third quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after acquiring an additional 10,028 shares during the last quarter. EFG Asset Management Americas Corp. raised its holdings in PulteGroup by 351.9% during the 3rd quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock worth $6,177,000 after purchasing an additional 36,407 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in PulteGroup by 16.1% in the third quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock valued at $49,050,000 after buying an additional 51,506 shares during the period. Institutional investors own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $135.01, for a total value of $1,919,842.20. Following the completion of the transaction, the executive vice president directly owned 69,753 shares of the company’s stock, valued at $9,417,352.53. This trade represents a 16.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the transaction, the chief operating officer owned 42,418 shares of the company’s stock, valued at $5,759,940.22. This trade represents a 26.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is owned by corporate insiders.

PulteGroup Stock Performance

Shares of PHM opened at $113.58 on Tuesday. The stock’s 50-day simple moving average is $128.84 and its 200 day simple moving average is $126.05. 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 52-week low of $88.07 and a 52-week high of $144.49. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.32.

PulteGroup Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup’s dividend payout ratio is currently 9.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PHM. Barclays set a $115.00 price target on PulteGroup in a research note on Monday, December 8th. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Raymond James Financial restated an “outperform” rating and set a $145.00 price objective on shares of PulteGroup in a research note on Wednesday, February 4th. Truist Financial began coverage on shares of PulteGroup in a research report on Wednesday, March 4th. They set a “buy” rating and a $170.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.71.

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.