DNB Asset Management AS lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 7.4% in the 1st quarter, Holdings Channel reports. The firm owned 73,800 shares of the construction company’s stock after selling 5,900 shares during the period. DNB Asset Management AS’s holdings in PulteGroup were worth $2,063,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. increased its position in shares of PulteGroup by 34.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,469 shares of the construction company’s stock worth $38,000 after purchasing an additional 374 shares during the last quarter. M&T Bank Corp increased its position in shares of PulteGroup by 2.2% in the 4th quarter. M&T Bank Corp now owns 22,873 shares of the construction company’s stock worth $594,000 after purchasing an additional 500 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of PulteGroup by 2.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 25,058 shares of the construction company’s stock worth $651,000 after purchasing an additional 513 shares during the last quarter. Focused Wealth Management Inc increased its position in shares of PulteGroup by 17.6% in the 4th quarter. Focused Wealth Management Inc now owns 4,000 shares of the construction company’s stock worth $104,000 after purchasing an additional 600 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of PulteGroup by 6.1% in the 4th quarter. Huntington National Bank now owns 11,039 shares of the construction company’s stock worth $287,000 after purchasing an additional 639 shares during the last quarter. 87.79% of the stock is owned by institutional investors.
NYSE PHM opened at $29.76 on Wednesday. PulteGroup, Inc. has a one year low of $20.64 and a one year high of $33.04. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $8.19 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is presently 12.26%.
Several research firms have recently weighed in on PHM. Zacks Investment Research raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Buckingham Research lifted their price target on shares of PulteGroup from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays set a $28.00 price target on shares of PulteGroup and gave the company a “hold” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. raised shares of PulteGroup from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $24.00 to $25.50 in a report on Wednesday, April 10th. Finally, ValuEngine raised shares of PulteGroup from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. PulteGroup presently has an average rating of “Hold” and a consensus price target of $28.54.
In other PulteGroup news, insider Ryan Marshall sold 15,000 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $27.81, for a total transaction of $417,150.00. Following the completion of the transaction, the insider now directly owns 453,996 shares of the company’s stock, valued at approximately $12,625,628.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.49% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://sportsperspectives.com/2019/04/17/pultegroup-inc-phm-shares-sold-by-dnb-asset-management-as.html.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
Read More: Growth Stocks
Want to see what other hedge funds are holding PHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PulteGroup, Inc. (NYSE:PHM).
Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.