Amalgamated Bank Has $9.05 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Amalgamated Bank trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,703 shares of the construction company’s stock after selling 9,484 shares during the period. Amalgamated Bank’s holdings in PulteGroup were worth $9,053,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Certuity LLC acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $245,000. Nordea Investment Management AB boosted its holdings in shares of PulteGroup by 4.0% in the 4th quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after purchasing an additional 28,833 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of PulteGroup by 24.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after purchasing an additional 5,257 shares during the last quarter. Truist Financial Corp raised its holdings in shares of PulteGroup by 248.6% during the 4th quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock worth $19,738,000 after buying an additional 136,370 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of PulteGroup by 65.0% during the 3rd quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock worth $16,660,000 after buying an additional 88,638 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PHM shares. Royal Bank of Canada boosted their target price on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Citigroup raised their target price on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Raymond James reiterated an “outperform” rating and set a $135.00 price target (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Wedbush reiterated a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. Finally, The Goldman Sachs Group boosted their price objective on PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $111.73.

PulteGroup Price Performance

Shares of PHM opened at $116.64 on Friday. The business has a 50-day moving average of $112.28 and a 200-day moving average of $101.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 1 year low of $65.16 and a 1 year high of $121.07.

PulteGroup announced that its board has approved a stock repurchase program on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.83% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.