PulteGroup, Inc. $PHM Shares Bought by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 351.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,752 shares of the construction company’s stock after purchasing an additional 36,407 shares during the period. PulteGroup accounts for about 1.1% of EFG Asset Management Americas Corp.’s portfolio, making the stock its 28th largest holding. EFG Asset Management Americas Corp.’s holdings in PulteGroup were worth $6,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in shares of PulteGroup by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock valued at $1,704,513,000 after buying an additional 609,640 shares during the period. Norges Bank purchased a new stake in PulteGroup during the 2nd quarter worth approximately $404,339,000. First Trust Advisors LP lifted its holdings in PulteGroup by 13.3% during the 3rd quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock worth $478,828,000 after buying an additional 424,011 shares in the last quarter. Invesco Ltd. boosted its position in PulteGroup by 0.9% in the 2nd quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock valued at $277,811,000 after buying an additional 23,051 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of PulteGroup in the third quarter valued at $315,883,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PHM shares. Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. UBS Group restated a “buy” rating on shares of PulteGroup in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. The Goldman Sachs Group increased their target price on shares of PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, Wells Fargo & Company upped their price objective on shares of PulteGroup from $132.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Price Performance

Shares of NYSE PHM opened at $119.14 on Friday. The company’s fifty day moving average is $131.06 and its two-hundred day moving average is $127.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $22.91 billion, a P/E ratio of 10.71, a PEG ratio of 1.38 and a beta of 1.32. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $144.49.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is 9.35%.

Insider Buying and Selling

In related news, insider Ryan Marshall sold 111,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $2,078,809.11. Following the transaction, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at $5,759,940.22. This trade represents a 26.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,952 shares of company stock valued at $20,162,165 in the last 90 days. 0.76% of the stock is owned by corporate insiders.

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.