Clark Capital Management Group Inc. Acquires 9,532 Shares of PulteGroup, Inc. $PHM

Clark Capital Management Group Inc. boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 1.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 645,042 shares of the construction company’s stock after purchasing an additional 9,532 shares during the quarter. Clark Capital Management Group Inc. owned about 0.33% of PulteGroup worth $85,229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Railway Pension Investments Ltd boosted its stake in 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 purchasing an additional 3,200 shares in the last quarter. Principal Financial Group Inc. grew its position in PulteGroup by 24.2% during 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 increased its stake in PulteGroup by 10.5% during the 3rd 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 in the last quarter. Envestnet Asset Management Inc. increased its stake in PulteGroup by 16.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock valued at $49,050,000 after purchasing an additional 51,506 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in PulteGroup by 129.5% in the second quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock worth $15,778,000 after buying an additional 85,637 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Todd N. Sheldon sold 14,220 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the transaction, the executive vice president directly owned 69,753 shares of the company’s stock, valued at $9,417,352.53. This represents a 16.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Marshall sold 111,250 shares of the firm’s stock in a transaction 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 owned 659,392 shares in the company, valued at approximately $88,266,213.12. This trade represents a 14.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 149,952 shares of company stock worth $20,162,165 in the last 90 days. Insiders own 0.76% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM stock opened at $119.14 on Friday. The company has a 50 day moving average price of $131.06 and a 200-day moving average price of $127.47. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $144.49. The firm has a market capitalization of $22.91 billion, a PE ratio of 10.71, a P/E/G ratio of 1.38 and a beta of 1.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

PulteGroup Dividend Announcement

The business 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. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is currently 9.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PHM shares. Citizens Jmp started coverage on shares of PulteGroup in a report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price target on the stock. Citigroup boosted their price objective on shares of PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Royal Bank Of Canada increased their target price on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Finally, Evercore lifted their target price on PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.71.

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.