PulteGroup, Inc. $PHM Shares Purchased by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora raised its position in PulteGroup, Inc. (NYSE:PHMFree Report) by 31.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,015 shares of the construction company’s stock after buying an additional 13,008 shares during the period. PulteGroup makes up about 1.3% of OLD Second National Bank of Aurora’s holdings, making the stock its 24th biggest holding. OLD Second National Bank of Aurora’s holdings in PulteGroup were worth $6,353,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rachor Investment Advisory Services LLC acquired a new position in shares of PulteGroup in the fourth quarter worth about $31,000. HHM Wealth Advisors LLC boosted its holdings in PulteGroup by 158.5% in the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. DV Equities LLC acquired a new stake in PulteGroup during the 4th quarter valued at approximately $32,000. Lloyd Advisory Services LLC. acquired a new stake in PulteGroup during the 4th quarter valued at approximately $33,000. Finally, High Point Wealth Management LLC purchased a new stake in PulteGroup during the 4th quarter worth approximately $38,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 1.4%

NYSE:PHM opened at $137.74 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $121.34 and its two-hundred day moving average is $124.30. PulteGroup, Inc. has a 52 week low of $104.04 and a 52 week high of $144.49. The company has a market cap of $26.24 billion, a PE ratio of 13.32, a P/E/G ratio of 1.73 and a beta of 1.20.

PulteGroup (NYSE:PHMGet Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the business posted $2.57 EPS. PulteGroup’s revenue was down 12.4% compared to the same quarter last year. On average, analysts predict that PulteGroup, Inc. will post 9.95 EPS for the current year.

PulteGroup announced that its board has authorized 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 buy up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s payout ratio is currently 10.06%.

Insiders Place Their Bets

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction 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 completion of the sale, the director owned 3,540 shares in the company, valued at $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction 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 sale, 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. Insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PHM shares. Wells Fargo & Company upped their target price on PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Barclays decreased their price target on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Evercore lifted their price target on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Finally, Bank of America reduced their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.71.

Get Our Latest Analysis on PulteGroup

PulteGroup Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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