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

Montag A & Associates Inc. increased its position in PulteGroup, Inc. (NYSE:PHM) by 17.6% during the fourth quarter, Holdings Channel reports. The fund owned 40,068 shares of the construction company’s stock after purchasing an additional 5,987 shares during the quarter. Montag A & Associates Inc.’s holdings in PulteGroup were worth $4,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of PHM. Focus Partners Wealth increased its holdings in shares of PulteGroup by 20.5% in the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after acquiring an additional 2,128 shares during the period. EverSource Wealth Advisors LLC grew its position in PulteGroup by 197.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after buying an additional 804 shares in the last quarter. Guggenheim Capital LLC increased its stake 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 buying an additional 975 shares during the period. Baird Financial Group Inc. increased its stake 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 buying an additional 2,164 shares during the period. Finally, Cerity Partners LLC increased its stake 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 buying an additional 6,240 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

PHM stock opened at $119.44 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $22.75 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.51 and a beta of 1.24. The firm has a 50 day simple moving average of $124.18 and a 200 day simple moving average of $124.71. PulteGroup, Inc. has a 52 week low of $95.20 and a 52 week high of $144.49.

PulteGroup (NYSE:PHM) last posted its quarterly 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). The company 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 business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.57 earnings per share. Research analysts anticipate that PulteGroup, Inc. will post 10.02 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

PulteGroup announced that its board has approved a stock repurchase program on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PHM shares. UBS Group raised their target price on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Citizens Jmp started coverage on shares of PulteGroup in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 target price on the stock. Truist Financial lowered their target price on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Citigroup raised their target price on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Wall Street Zen raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.71.

Insider Buying and Selling at PulteGroup

In related news, VP Brien P. O’meara sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.51, for a total transaction of $542,040.00. Following the completion of the sale, the vice president directly owned 8,601 shares in the company, valued at approximately $1,165,521.51. This trade represents a 31.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the sale, the executive vice president owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. This represents a 16.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 149,952 shares of company stock valued at $20,162,165 in the last 90 days. Corporate 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.