PulteGroup, Inc. $PHM Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its stake in PulteGroup, Inc. (NYSE:PHM) by 32.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,199 shares of the construction company’s stock after selling 80,805 shares during the quarter. Empowered Funds LLC owned approximately 0.09% of PulteGroup worth $19,429,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its position in shares of PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. NFSG Corp acquired a new stake in shares of PulteGroup in the first quarter worth approximately $29,000. Rachor Investment Advisory Services LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $31,000. DV Equities LLC acquired a new position in PulteGroup in the 4th quarter valued at $32,000. Finally, HHM Wealth Advisors LLC raised its stake in PulteGroup by 158.5% in the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PHM shares. Bank of America lowered 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. Seaport Research Partners reiterated a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Truist Financial decreased their price target 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. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Wells Fargo & Company upped their price objective on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.14.

Insider Activity

In related news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by company insiders.

PulteGroup Stock Up 3.2%

Shares of NYSE:PHM opened at $134.81 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $124.97 and a two-hundred day moving average of $125.47. The stock has a market cap of $25.27 billion, a P/E ratio of 13.77, a PEG ratio of 1.62 and a beta of 1.18. PulteGroup, Inc. has a 52-week low of $108.49 and a 52-week high of $144.49.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm earned $3.03 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts expect that PulteGroup, Inc. will post 10.08 earnings per share for the current year.

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

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.