Assetmark Inc. Sells 57,093 Shares of PulteGroup, Inc. $PHM

Assetmark Inc. reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 599,391 shares of the construction company’s stock after selling 57,093 shares during the period. Assetmark Inc.’s holdings in PulteGroup were worth $79,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Wealth Management Group LLC increased its stake in shares of PulteGroup by 281.7% during the third 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 in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of PulteGroup in the 2nd quarter worth approximately $32,000. Rexford Capital Inc. purchased a new stake in shares of PulteGroup in the 2nd quarter worth approximately $35,000. True Wealth Design LLC increased its position in PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after buying an additional 248 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in PulteGroup by 1,423.1% during the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of PulteGroup in a research note on Tuesday, October 21st. Citizens Jmp assumed 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. Finally, JPMorgan Chase & Co. reduced their price target 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. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $140.15.

Insiders Place Their Bets

In related news, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the sale, the vice president owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. This trade represents a 31.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction that occurred on 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 sale, 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. Over the last quarter, insiders have sold 144,779 shares of company stock worth $19,432,616. 0.76% of the stock is currently owned by corporate insiders.

PulteGroup Trading Down 0.3%

Shares of NYSE:PHM opened at $138.92 on Friday. The stock’s 50-day simple moving average is $126.06 and its two-hundred day simple moving average is $125.97. The stock has a market capitalization of $26.72 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.59 and a beta of 1.33. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is presently 9.35%.

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.