Cumberland Partners Ltd Purchases Shares of 123,603 PulteGroup, Inc. $PHM

Cumberland Partners Ltd purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 123,603 shares of the construction company’s stock, valued at approximately $14,494,000. PulteGroup accounts for approximately 0.9% of Cumberland Partners Ltd’s investment portfolio, making the stock its 28th biggest holding.

A number of other large investors have also made changes to their positions in the company. Rachor Investment Advisory Services LLC bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $31,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $33,000. High Point Wealth Management LLC bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $38,000. Beacon Financial Strategies CORP bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $40,000. Finally, Elyxium Wealth LLC bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $41,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Up 0.2%

PHM stock opened at $116.48 on Friday. PulteGroup, Inc. has a 1-year low of $95.20 and a 1-year high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $22.19 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.47 and a beta of 1.23. The business has a 50 day simple moving average of $119.25 and a two-hundred day simple moving average of $124.07.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company earned $2.57 earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup declared that its board has approved a share repurchase plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to purchase up to 6.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $149.00 price objective (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Bank of America cut their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Barclays cut their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Evercore boosted their price objective on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.

Insider Activity at PulteGroup

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This represents a 26.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lila Snyder sold 3,339 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.75% of the company’s stock.

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.