Talon Private Wealth LLC bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 5,156 shares of the construction company’s stock, valued at approximately $606,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Royal Bank of Canada grew its position in shares of PulteGroup by 23.4% in the first quarter. Royal Bank of Canada now owns 496,098 shares of the construction company’s stock valued at $58,347,000 after purchasing an additional 94,150 shares during the last quarter. Evelyn Partners Investment Management Services Ltd acquired a new position in shares of PulteGroup during the 1st quarter worth approximately $37,000. Quantinno Capital Management LP raised its position in shares of PulteGroup by 2.6% during the 1st quarter. Quantinno Capital Management LP now owns 650,025 shares of the construction company’s stock worth $76,449,000 after purchasing an additional 16,344 shares during the last quarter. Clough Capital Partners L P lifted its stake in PulteGroup by 11.8% in the 1st quarter. Clough Capital Partners L P now owns 318,349 shares of the construction company’s stock valued at $37,441,000 after buying an additional 33,515 shares in the last quarter. Finally, Gateway Wealth Partners LLC purchased a new stake in PulteGroup in the 1st quarter valued at approximately $202,000. Institutional investors and hedge funds own 89.90% of the company’s stock.
PulteGroup Stock Down 1.8%
Shares of NYSE PHM opened at $132.30 on Thursday. The firm has a market cap of $24.80 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49. The firm’s 50 day moving average price is $125.29 and its 200 day moving average price is $125.54.
PulteGroup announced that its board has initiated a stock buyback program on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
Insiders Place Their Bets
In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Citigroup reduced their price objective on PulteGroup from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Evercore reaffirmed an “outperform” rating and set a $162.00 price objective on shares of PulteGroup in a research note on Thursday, July 23rd. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Weiss Ratings raised shares of PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.14.
Read Our Latest Stock Analysis on PulteGroup
PulteGroup Profile
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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