PulteGroup, Inc. $PHM Shares Acquired by TD Asset Management Inc

TD Asset Management Inc grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 91.7% during the 3rd quarter, Holdings Channel reports. The fund owned 157,888 shares of the construction company’s stock after purchasing an additional 75,513 shares during the period. TD Asset Management Inc’s holdings in PulteGroup were worth $20,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Norges Bank acquired a new stake in PulteGroup during the second quarter worth about $404,339,000. Massachusetts Financial Services Co. MA purchased a new position in PulteGroup in the third quarter valued at $315,883,000. AGF Management Ltd. purchased a new stake in shares of PulteGroup during the third quarter worth approximately $174,347,000. First Trust Advisors LP raised its holdings in shares of PulteGroup by 27.2% in 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 in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of PulteGroup by 143.8% in the 2nd 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. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In related news, COO Matthew William Koart sold 15,309 shares of PulteGroup 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 transaction, the chief operating officer directly owned 42,418 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan Marshall sold 111,250 shares of the 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 sale, the insider directly owned 659,392 shares in the company, valued at $88,266,213.12. This trade represents a 14.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 149,952 shares of company stock worth $20,162,165 over the last 90 days. Company insiders own 0.76% of the company’s stock.

PulteGroup Trading Up 1.1%

NYSE:PHM opened at $137.09 on Friday. The business’s 50-day moving average is $129.37 and its two-hundred day moving average is $127.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $26.37 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.33. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $144.49.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s dividend payout ratio is 9.35%.

Wall Street Analysts Forecast Growth

PHM has been the subject of several research reports. Zacks Research downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Wells Fargo & Company lifted their price objective on PulteGroup from $132.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Oppenheimer restated 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. Finally, The Goldman Sachs Group upped their price objective on PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $140.62.

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.