PulteGroup, Inc. $PHM Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 10.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 58,854 shares of the construction company’s stock after acquiring an additional 5,582 shares during the period. Wedge Capital Management L L P NC’s holdings in PulteGroup were worth $6,901,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Railway Pension Investments Ltd lifted its holdings in shares of PulteGroup by 2.4% in the 2nd quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after acquiring an additional 3,200 shares during the last quarter. Principal Financial Group Inc. increased its holdings in PulteGroup by 24.2% in the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock valued at $41,348,000 after purchasing an additional 61,009 shares during the last quarter. Nisa Investment Advisors LLC raised its position in PulteGroup by 10.5% in the third quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after purchasing an additional 10,028 shares during the period. Nordea Investment Management AB raised its position in PulteGroup by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock valued at $67,387,000 after purchasing an additional 13,259 shares during the period. Finally, EFG Asset Management Americas Corp. lifted its stake in PulteGroup by 351.9% during the third quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock worth $6,177,000 after purchasing an additional 36,407 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of PHM opened at $114.68 on Friday. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $144.49. The firm’s fifty day simple moving average is $129.18 and its 200-day simple moving average is $126.29. The firm has a market capitalization of $21.97 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.32. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

PulteGroup Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen upgraded PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. The Goldman Sachs Group lifted 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. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. BTIG Research began coverage on PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company raised their target price on PulteGroup from $132.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.71.

Insider Buying and Selling

In other news, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares of the company’s stock, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Todd N. Sheldon sold 14,220 shares of the 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 transaction, the executive vice president owned 69,753 shares in the company, valued at approximately $9,417,352.53. The trade was a 16.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 149,952 shares of company stock valued at $20,162,165 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Company 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.