Vest Financial LLC Raises Holdings in PulteGroup, Inc. $PHM

Vest Financial LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 465,170 shares of the construction company’s stock after purchasing an additional 49,765 shares during the period. Vest Financial LLC’s holdings in PulteGroup were worth $54,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PHM. Private Wealth Management Group LLC raised its stake in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after buying an additional 200 shares in the last quarter. High Point Wealth Management LLC purchased a new position in shares of PulteGroup during the 4th quarter worth approximately $38,000. Beacon Financial Strategies CORP purchased a new position in shares of PulteGroup during the 4th quarter worth approximately $40,000. True Wealth Design LLC raised its stake in shares of PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after buying an additional 248 shares in the last quarter. Finally, Fulcrum Asset Management LLP purchased a new position in shares of PulteGroup during the 3rd quarter worth approximately $47,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Truist Financial cut their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Seaport Research Partners reissued a “sell” rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Wells Fargo & Company upped their price target on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group upped their price target on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $128.45 on Tuesday. The business’s fifty day moving average price is $125.29 and its two-hundred day moving average price is $124.69. The stock has a market cap of $24.47 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. PulteGroup, Inc. has a one year low of $95.20 and a one year high of $144.49.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. PulteGroup’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.57 EPS. On average, analysts forecast that PulteGroup, Inc. will post 10.04 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, March 17th. PulteGroup’s dividend payout ratio is 10.06%.

PulteGroup announced that its Board of Directors has approved a share buyback plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at PulteGroup

In other news, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares of the company’s stock, valued at $2,069,333.19. The trade was a 26.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of PulteGroup stock in a transaction on Friday, February 6th. The shares were sold at an average price of $135.01, for a total value of $1,919,842.20. Following the completion of the sale, the executive vice president directly owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. This represents a 16.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 149,952 shares of company stock valued at $20,162,165. 0.75% of the stock is currently owned by insiders.

PulteGroup Company 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.