Fieldview Capital Management LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,069 shares of the construction company’s stock, valued at approximately $1,884,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PHM. Rachor Investment Advisory Services LLC purchased a new stake in shares of PulteGroup in the fourth quarter worth about $31,000. Lloyd Advisory Services LLC. purchased a new stake in shares of PulteGroup in the fourth quarter worth about $33,000. High Point Wealth Management LLC purchased a new stake in shares of PulteGroup in the fourth quarter worth about $38,000. Beacon Financial Strategies CORP purchased a new stake in shares of PulteGroup in the fourth quarter worth about $40,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of PulteGroup in the fourth quarter worth about $41,000. Institutional investors own 89.90% of the company’s stock.
Wall Street Analyst Weigh In
PHM has been the topic of a number of recent analyst reports. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. UBS Group raised their target price on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Barclays lowered their target price on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Wells Fargo & Company raised their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $140.71.
Insider Activity at PulteGroup
In other PulteGroup news, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director directly owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.
PulteGroup Trading Down 0.7%
Shares of PHM opened at $123.13 on Friday. The firm’s 50 day simple moving average is $119.61 and its 200 day simple moving average is $124.18. The company has a market capitalization of $23.45 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. PulteGroup, Inc. has a 1-year low of $98.27 and a 1-year high of $144.49.
PulteGroup (NYSE:PHM – Get Free Report) last announced its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.57 earnings per share. Sell-side analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.
PulteGroup Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is 10.06%.
PulteGroup declared that its board has approved a stock repurchase program on Thursday, April 23rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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.
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