PulteGroup, Inc. $PHM Shares Acquired by Montag A & Associates Inc.

Montag A & Associates Inc. lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,068 shares of the construction company’s stock after purchasing an additional 5,987 shares during the period. Montag A & Associates Inc.’s holdings in PulteGroup were worth $4,705,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Evergreen Capital Management LLC lifted its position in shares of PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after purchasing an additional 78 shares in the last quarter. CWM LLC raised its holdings in PulteGroup by 0.6% in the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock valued at $1,890,000 after acquiring an additional 92 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in PulteGroup by 3.6% in the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock valued at $313,000 after acquiring an additional 92 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in PulteGroup by 5.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company’s stock worth $229,000 after acquiring an additional 94 shares in the last quarter. Finally, Opal Wealth Advisors LLC grew its holdings in PulteGroup by 4.8% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock worth $254,000 after acquiring an additional 99 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Down 2.4%

Shares of NYSE:PHM opened at $119.44 on Friday. The stock has a market capitalization of $22.75 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. PulteGroup, Inc. has a 1-year low of $95.20 and a 1-year high of $144.49. The company’s fifty day moving average is $124.18 and its two-hundred day moving average is $124.71. 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 (NYSE:PHM) last issued 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 business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the company posted $2.57 earnings per share. Equities analysts anticipate that PulteGroup, Inc. will post 10.02 EPS for the current year.

PulteGroup announced that its board has authorized a share buyback program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio is 10.06%.

Insider Activity at PulteGroup

In other PulteGroup news, insider Ryan Marshall sold 111,250 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the sale, the insider directly owned 659,392 shares of the company’s stock, valued at approximately $88,266,213.12. This represents a 14.44% 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 Kevin A. Henry sold 5,173 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the sale, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 149,952 shares of company stock valued at $20,162,165 in the last ninety days. 0.75% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PHM shares. Barclays cut 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. The Goldman Sachs Group upped their target price on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Raymond James Financial restated an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a research note on Wednesday, February 4th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Bank of America cut their target price 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 analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

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.