Shell Asset Management Co. Decreases Stock Holdings in PulteGroup, Inc. $PHM

Shell Asset Management Co. lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 53.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,485 shares of the construction company’s stock after selling 9,567 shares during the period. Shell Asset Management Co.’s holdings in PulteGroup were worth $1,121,000 as of its most recent SEC filing.

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

PulteGroup Stock Up 2.5%

Shares of NYSE PHM opened at $142.42 on Monday. 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 cap of $27.39 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.66 and a beta of 1.33. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $143.66. The business has a 50-day simple moving average of $126.37 and a two-hundred day simple moving average of $126.30.

PulteGroup Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on PHM. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Citizens Jmp assumed coverage on PulteGroup in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 price objective on shares of PulteGroup in a report on Wednesday, February 4th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $149.00 target price (up previously from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.15.

Insider Activity

In related news, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the sale, the chief operating officer owned 42,418 shares of the company’s stock, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the business’s stock in a transaction dated 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 owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. The trade was a 16.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 144,779 shares of company stock worth $19,432,616. Insiders own 0.76% of the company’s stock.

About PulteGroup

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.