Novem Group Buys New Shares in PulteGroup, Inc. $PHM

Novem Group bought a new position in PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,298 shares of the construction company’s stock, valued at approximately $973,000.

A number of other institutional investors have also bought and sold shares of PHM. Private Wealth Management Group LLC grew 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 purchasing an additional 200 shares in the last quarter. Beacon Financial Strategies CORP purchased a new position in PulteGroup in the 4th quarter worth approximately $40,000. True Wealth Design LLC lifted 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 purchasing an additional 248 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in PulteGroup in the 3rd quarter worth approximately $47,000. Finally, SJS Investment Consulting Inc. boosted its stake in PulteGroup by 1,423.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock worth $52,000 after purchasing an additional 370 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

PulteGroup stock opened at $128.71 on Wednesday. The company’s 50-day moving average price is $126.26 and its 200-day moving average price is $124.69. PulteGroup, Inc. has a twelve month low of $94.93 and a twelve month high of $144.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market cap of $24.66 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.49 and a beta of 1.33.

PulteGroup Dividend Announcement

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

Insider Buying and Selling 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 transaction, the vice president owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. The trade was a 31.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction on 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 $2,069,333.19. The trade was a 26.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 149,952 shares of company stock valued at $20,162,165. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PHM shares. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Truist Financial cut their target price on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Citigroup lifted their price target on shares of PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Finally, Citizens Jmp started coverage on shares of PulteGroup in a report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.79.

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.