PulteGroup, Inc. $PHM Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,475 shares of the construction company’s stock after selling 10,690 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.10% of PulteGroup worth $26,225,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PHM. Norges Bank purchased a new stake in shares of PulteGroup in the second quarter valued at approximately $404,339,000. Massachusetts Financial Services Co. MA purchased a new position in PulteGroup in the third quarter worth $315,883,000. AGF Management Ltd. acquired a new stake in PulteGroup in the third quarter valued at $174,347,000. American Century Companies Inc. lifted its holdings in PulteGroup by 120.4% in the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after acquiring an additional 930,287 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of PulteGroup by 27.2% during the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock worth $337,462,000 after purchasing an additional 683,728 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Zacks Research cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Barclays set a $115.00 price objective on shares of PulteGroup in a research note on Monday, December 8th. The Goldman Sachs Group boosted their price objective on shares of PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Truist Financial started 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, Evercore increased their target price on shares of PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Price Performance

PulteGroup stock opened at $127.95 on Monday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $144.49. 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 firm’s 50-day simple moving average is $130.60 and its 200 day simple moving average is $127.72. The firm has a market capitalization of $24.61 billion, a PE ratio of 11.51, a P/E/G ratio of 1.49 and a beta of 1.32.

PulteGroup Announces Dividend

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

Insider Buying and Selling

In other news, insider Ryan Marshall sold 111,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the completion of the transaction, the insider directly owned 659,392 shares of the company’s stock, valued at $88,266,213.12. This trade represents a 14.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the transaction, the executive vice president owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This represents a 26.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 149,952 shares of company stock valued at $20,162,165. 0.76% of the stock is owned by company 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.