Cookson Peirce & Co. Inc. Makes New Investment in PulteGroup, Inc. $PHM

Cookson Peirce & Co. Inc. purchased a new stake in PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,117 shares of the construction company’s stock, valued at approximately $1,205,000.

Several other large investors have also recently modified their holdings of PHM. Private Wealth Management Group LLC grew its stake in shares of PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in PulteGroup during the 2nd quarter worth about $32,000. Rexford Capital Inc. bought a new stake in shares of PulteGroup in the 2nd quarter valued at about $35,000. True Wealth Design LLC increased its stake in shares of PulteGroup by 229.6% in the third 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 during the period. Finally, SJS Investment Consulting Inc. raised its position in shares of PulteGroup by 1,423.1% during the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock worth $52,000 after acquiring an additional 370 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PHM. Evercore upped their target price on PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Zacks Research lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Royal Bank Of Canada increased their price objective on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Barclays set a $115.00 target price on shares of PulteGroup in a report on Monday, December 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Nine research 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.15.

PulteGroup Stock Performance

NYSE:PHM opened at $142.42 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $143.66. The company has a fifty day moving average of $126.37 and a 200-day moving average of $126.15. The firm has a market capitalization of $27.39 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.59 and a beta of 1.33.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio is 9.35%.

Insider Transactions at PulteGroup

In related news, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was 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 of the company’s stock, valued at $5,759,940.22. The trade was a 26.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.01, for a total value of $1,919,842.20. Following the transaction, the executive vice president directly owned 69,753 shares in the company, valued at approximately $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 144,779 shares of company stock valued at $19,432,616. 0.76% of the stock is currently owned by corporate 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.