Lombard Odier Asset Management USA Corp Buys 7,482 Shares of PulteGroup, Inc. $PHM

Lombard Odier Asset Management USA Corp increased its stake in PulteGroup, Inc. (NYSE:PHM) by 74.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,480 shares of the construction company’s stock after purchasing an additional 7,482 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in PulteGroup were worth $2,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in PulteGroup in the second quarter valued at $32,000. Rexford Capital Inc. acquired a new position in shares of PulteGroup during the 2nd quarter worth about $35,000. Private Wealth Management Group LLC raised its holdings in shares of PulteGroup by 281.7% in the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC raised its holdings in shares of PulteGroup by 229.6% in the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after purchasing an additional 248 shares during the period. Finally, SJS Investment Consulting Inc. lifted its stake in PulteGroup by 1,423.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after purchasing an additional 370 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Up 2.5%

PHM stock opened at $122.19 on Tuesday. 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 stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.38 and a beta of 1.32. The business’s fifty day moving average price is $131.11 and its two-hundred day moving average price is $127.38. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $144.49.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio is 9.35%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. The Goldman Sachs Group upped their price objective on PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. BTIG Research assumed coverage on PulteGroup in a research report on Monday, December 1st. They issued a “neutral” rating for the company. Wall Street Zen upgraded PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Finally, Zacks Research lowered PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.71.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 14,220 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.01, for a total value of $1,919,842.20. Following the completion of the sale, the executive vice president owned 69,753 shares of the company’s stock, valued at $9,417,352.53. The trade was a 16.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan Marshall sold 111,250 shares of the stock in a transaction that occurred 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 transaction, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. The trade was a 14.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 149,952 shares of company stock valued at $20,162,165 in the last quarter. Company insiders own 0.76% of the company’s stock.

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.