Peak Retirement Planning Inc. Acquires 7,377 Shares of PulteGroup, Inc. $PHM

Peak Retirement Planning Inc. lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 44.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 23,982 shares of the construction company’s stock after acquiring an additional 7,377 shares during the period. Peak Retirement Planning Inc.’s holdings in PulteGroup were worth $2,812,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in PHM. Focus Partners Wealth lifted its holdings in PulteGroup by 20.5% during the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after purchasing an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in PulteGroup by 197.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after purchasing an additional 804 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in PulteGroup by 12.9% during the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after purchasing an additional 975 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after purchasing an additional 6,240 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Bank of America cut their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 20th. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Barclays dropped their target price on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Truist Financial dropped their target price on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a research note on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Trading Up 0.1%

Shares of NYSE PHM opened at $117.80 on Wednesday. PulteGroup, Inc. has a 1-year low of $96.46 and a 1-year high of $144.49. The company has a market cap of $22.44 billion, a PE ratio of 11.39, a P/E/G ratio of 1.49 and a beta of 1.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $119.03 and a two-hundred day moving average of $124.03.

PulteGroup (NYSE:PHM) 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). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the firm posted $2.57 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. As a group, equities analysts expect 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. Investors of record on Tuesday, June 16th will be paid 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 payout ratio is 10.06%.

PulteGroup declared that its Board of Directors has initiated a share buyback plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

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.