Envestnet Asset Management Inc. Boosts Stock Position in PulteGroup, Inc. $PHM

Envestnet Asset Management Inc. increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 16.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,228 shares of the construction company’s stock after buying an additional 51,506 shares during the period. Envestnet Asset Management Inc. owned about 0.19% of PulteGroup worth $49,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of PulteGroup in the second quarter valued at about $32,000. Rexford Capital Inc. purchased a new position in PulteGroup in the 2nd quarter valued at about $35,000. Private Wealth Management Group LLC lifted its stake in 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 buying an additional 200 shares in the last quarter. True Wealth Design LLC boosted its holdings in PulteGroup by 229.6% in the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after buying an additional 248 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in PulteGroup by 1,423.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock worth $52,000 after buying an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PHM. Citizens Jmp began coverage on PulteGroup in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price target for the company. UBS Group lowered their target price on shares of PulteGroup from $160.00 to $159.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $144.00 target price on shares of PulteGroup in a research report on Tuesday, January 13th. Zacks Research lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research note on Tuesday, February 3rd. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.15.

PulteGroup Stock Down 2.0%

Shares of NYSE PHM opened at $132.37 on Tuesday. The company has a market capitalization of $25.46 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.55 and a beta of 1.33. 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 company has a 50 day simple moving average of $125.45 and a 200-day simple moving average of $125.64. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.11.

PulteGroup Announces Dividend

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

Insiders Place Their Bets

In related news, COO Matthew William Koart sold 15,309 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the sale, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan Marshall sold 111,250 shares of the company’s stock in a transaction dated 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 in the company, valued at $88,266,213.12. The trade was a 14.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 144,779 shares of company stock valued at $19,432,616. 0.76% of the stock is owned by company 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.