DAVENPORT & Co LLC Sells 7,999 Shares of PulteGroup, Inc. $PHM

DAVENPORT & Co LLC lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 39.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,209 shares of the construction company’s stock after selling 7,999 shares during the quarter. DAVENPORT & Co LLC’s holdings in PulteGroup were worth $1,432,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in PulteGroup in the second quarter worth $404,339,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of PulteGroup during the third quarter valued at $315,883,000. AGF Management Ltd. bought a new position in shares of PulteGroup in the third quarter worth about $174,347,000. American Century Companies Inc. grew its holdings in shares of PulteGroup by 120.4% in the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock worth $225,024,000 after purchasing an additional 930,287 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in PulteGroup by 27.2% in the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock worth $337,462,000 after buying an additional 683,728 shares during the period. Institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore lifted their price objective on shares of PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Royal Bank Of Canada raised their target price on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Wall Street Zen upgraded PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Wells Fargo & Company boosted their price target on PulteGroup from $132.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. dropped their price objective on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average target price of $142.71.

PulteGroup Stock Up 0.0%

NYSE:PHM opened at $114.68 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. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $144.49. The company has a 50-day moving average of $129.18 and a 200 day moving average of $126.23. The firm has a market cap of $21.97 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.32.

PulteGroup Dividend Announcement

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 given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio is presently 9.35%.

Insider Transactions at PulteGroup

In related news, insider Ryan Marshall sold 111,250 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were 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 of the company’s stock, valued at $88,266,213.12. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the transaction, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at $5,759,940.22. This trade represents a 26.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 149,952 shares of company stock worth $20,162,165. Insiders own 0.75% of the company’s stock.

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.