MetLife Investment Management LLC Sells 2,615 Shares of PulteGroup, Inc. (NYSE:PHM)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC reduced its stake in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,154 shares of the construction company’s stock after selling 2,615 shares during the period. MetLife Investment Management LLC’s holdings in PulteGroup were worth $2,443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. American Century Companies Inc. boosted its position in shares of PulteGroup by 9.5% in the 1st quarter. American Century Companies Inc. now owns 55,196 shares of the construction company’s stock worth $2,313,000 after purchasing an additional 4,799 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in PulteGroup during the first quarter worth about $221,000. PNC Financial Services Group Inc. lifted its holdings in PulteGroup by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 22,505 shares of the construction company’s stock worth $945,000 after acquiring an additional 382 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in PulteGroup by 11.1% during the first quarter. Acadian Asset Management LLC now owns 4,487 shares of the construction company’s stock worth $188,000 after acquiring an additional 449 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in PulteGroup by 4.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,270 shares of the construction company’s stock worth $1,394,000 after acquiring an additional 1,491 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PHM shares. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. lifted their target price on PulteGroup from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Credit Suisse Group lifted their target price on PulteGroup from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. Barclays lifted their target price on PulteGroup from $58.00 to $75.00 in a report on Sunday, February 5th. Finally, BTIG Research lifted their price target on PulteGroup from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.69.

Insider Buying and Selling

In other news, VP John J. Chadwick sold 29,817 shares of PulteGroup stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $56.63, for a total transaction of $1,688,536.71. Following the completion of the sale, the vice president now directly owns 87,428 shares of the company’s stock, valued at approximately $4,951,047.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Brien P. O’meara sold 4,924 shares of PulteGroup stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total transaction of $295,440.00. Following the sale, the vice president now owns 17,308 shares of the company’s stock, valued at approximately $1,038,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John J. Chadwick sold 29,817 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $56.63, for a total transaction of $1,688,536.71. Following the sale, the vice president now directly owns 87,428 shares in the company, valued at approximately $4,951,047.64. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.

PulteGroup Price Performance

PHM stock opened at $53.58 on Friday. The stock has a market capitalization of $12.09 billion, a PE ratio of 4.83, a price-to-earnings-growth ratio of 0.46 and a beta of 1.33. The company’s 50-day moving average is $51.38 and its 200-day moving average is $44.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.62 and a quick ratio of 0.62. PulteGroup, Inc. has a 1 year low of $35.03 and a 1 year high of $60.89.

PulteGroup (NYSE:PHM – Get Rating) last posted its earnings results on Tuesday, January 31st. The construction company reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.75. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.59 billion. PulteGroup had a net margin of 16.13% and a return on equity of 31.85%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.51 EPS. Equities research analysts expect that PulteGroup, Inc. will post 7.34 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Monday, March 20th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, March 17th. PulteGroup’s dividend payout ratio (DPR) is presently 5.77%.

About PulteGroup

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PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.