PulteGroup, Inc. $PHM Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 26.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,109 shares of the construction company’s stock after acquiring an additional 5,663 shares during the period. Merit Financial Group LLC’s holdings in PulteGroup were worth $3,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PHM. Whittier Trust Co. of Nevada Inc. acquired a new stake in PulteGroup during the fourth quarter worth about $182,000. Mirae Asset Global Investments Co. Ltd. raised its stake in PulteGroup by 15.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,669 shares of the construction company’s stock valued at $4,183,000 after acquiring an additional 4,905 shares in the last quarter. Cornerstone Wealth Group LLC raised its stake in shares of PulteGroup by 20.0% in the 4th quarter. Cornerstone Wealth Group LLC now owns 2,717 shares of the construction company’s stock worth $319,000 after buying an additional 453 shares in the last quarter. CWM LLC raised its position in shares of PulteGroup by 2.8% during the fourth quarter. CWM LLC now owns 14,712 shares of the construction company’s stock worth $1,725,000 after purchasing an additional 404 shares during the period. Finally, KBC Group NV grew its stake in PulteGroup by 4.0% in the fourth quarter. KBC Group NV now owns 36,305 shares of the construction company’s stock valued at $4,257,000 after purchasing an additional 1,393 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 14,220 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 69,753 shares in the company, valued at $9,417,352.53. This represents a 16.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the sale, the executive vice president owned 14,673 shares in the company, valued at approximately $2,069,333.19. The trade was a 26.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,952 shares of company stock worth $20,162,165 over the last quarter. 0.75% of the stock is owned by company insiders.

PulteGroup Price Performance

PHM stock opened at $127.30 on Tuesday. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.48 and a beta of 1.33. 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, Inc. has a 12-month low of $91.76 and a 12-month high of $144.49. The company’s fifty day simple moving average is $126.44 and its 200 day simple moving average is $124.75.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio is presently 9.35%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PHM. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Truist Financial dropped their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Barclays reduced their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Wells Fargo & Company dropped their price objective on PulteGroup from $150.00 to $132.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group lowered their target price on PulteGroup from $150.00 to $133.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.79.

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.