CIBC Private Wealth Group LLC Has $1.89 Million Stake in PulteGroup, Inc. $PHM

CIBC Private Wealth Group LLC raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 88.3% in the 3rd quarter, Holdings Channel reports. The firm owned 14,307 shares of the construction company’s stock after purchasing an additional 6,710 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in PulteGroup were worth $1,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PHM. Twin Peaks Wealth Advisors LLC bought a new stake in shares of PulteGroup in the 2nd quarter valued at about $32,000. Rexford Capital Inc. bought a new position in shares of PulteGroup during the second quarter worth about $35,000. Private Wealth Management Group LLC raised its position 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 worth $36,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after acquiring an additional 248 shares during the period. Finally, Fulcrum Asset Management LLP acquired a new position in shares of PulteGroup in the third quarter worth approximately $47,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 4,000 shares of the business’s 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 completion of the sale, the vice president owned 8,601 shares in the company, valued at $1,165,521.51. The trade was a 31.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the transaction, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. The trade was a 26.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 149,952 shares of company stock valued at $20,162,165. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PHM shares. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. UBS Group reaffirmed a “buy” rating on shares of PulteGroup in a research note on Thursday, March 12th. Truist Financial initiated coverage on shares of PulteGroup in a research report on Wednesday, March 4th. They set a “buy” rating and a $170.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Finally, Citigroup upped their price target on shares of PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Stock Performance

Shares of PHM opened at $114.48 on Monday. 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 50-day moving average of $130.66 and a 200-day moving average of $126.97. The company has a market cap of $21.93 billion, a PE ratio of 10.30, a P/E/G ratio of 1.33 and a beta of 1.32. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $144.49.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders 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 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.