Kestra Private Wealth Services LLC Increases Stock Position in PulteGroup, Inc. $PHM

Kestra Private Wealth Services LLC boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 173.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,089 shares of the construction company’s stock after acquiring an additional 5,129 shares during the period. Kestra Private Wealth Services LLC’s holdings in PulteGroup were worth $949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHM. High Point Wealth Management LLC purchased a new position in PulteGroup in the 4th quarter valued at about $38,000. Beacon Financial Strategies CORP purchased a new stake in shares of PulteGroup during the fourth quarter worth about $40,000. Fulcrum Asset Management LLP purchased a new stake in shares of PulteGroup during the third quarter worth about $47,000. True Wealth Design LLC lifted its stake in shares of PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after acquiring an additional 248 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in shares of PulteGroup by 1,423.1% in the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock worth $52,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In related news, 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 value of $1,919,842.20. Following the sale, the executive vice president directly owned 69,753 shares in the company, valued at $9,417,352.53. This trade represents a 16.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction on Friday, February 6th. The shares were sold at an average price of $135.79, for a total value of $2,078,809.11. Following the sale, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. The trade was a 26.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 149,952 shares of company stock valued at $20,162,165. Company insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

Shares of PHM opened at $119.44 on Friday. PulteGroup, Inc. has a 12 month low of $95.20 and a 12 month 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 stock has a fifty day moving average price of $124.18 and a 200 day moving average price of $124.71. The company has a market cap of $22.75 billion, a P/E ratio of 11.55, a PEG ratio of 1.51 and a beta of 1.24.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data 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). The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The company’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 earned $2.57 earnings per share. On average, research analysts forecast that PulteGroup, Inc. will post 10.02 earnings per share for the current year.

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

PulteGroup Announces Dividend

The company 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. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is presently 10.06%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank Of Canada upped their target price on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Bank of America decreased their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Wells Fargo & Company lifted their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. UBS Group increased their price objective 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. Finally, Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Ten research analysts have rated the stock with a Buy rating and seven have assigned 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 price target of $140.71.

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.