PulteGroup, Inc. $PHM Shares Acquired by Sei Investments Co.

Sei Investments Co. raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 148,329 shares of the construction company’s stock after purchasing an additional 11,144 shares during the period. Sei Investments Co. owned 0.08% of PulteGroup worth $17,446,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PHM. Franklin Resources Inc. increased its holdings in shares of PulteGroup by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after buying an additional 655,033 shares during the last quarter. First Trust Advisors LP boosted its holdings in PulteGroup by 7.8% in the first quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock valued at $507,428,000 after acquiring an additional 313,581 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in PulteGroup by 126.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after acquiring an additional 2,392,580 shares during the period. Norges Bank purchased a new stake in PulteGroup during the fourth quarter valued at about $466,653,000. Finally, Dimensional Fund Advisors LP increased its stake in PulteGroup by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company’s stock worth $370,008,000 after acquiring an additional 26,790 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 1.8%

PHM stock opened at $132.30 on Thursday. PulteGroup, Inc. has a twelve month low of $108.49 and a twelve month high of $144.49. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $24.80 billion, a P/E ratio of 13.51, a PEG ratio of 1.67 and a beta of 1.18. The firm has a 50 day simple moving average of $125.29 and a 200-day simple moving average of $125.54.

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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PHM shares. UBS Group restated a “buy” rating and issued a $166.00 price objective on shares of PulteGroup in a report on Thursday, July 23rd. Wells Fargo & Company lifted their price target on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. The Goldman Sachs Group increased their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Royal Bank Of Canada lifted their target price on shares of PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Finally, Evercore reaffirmed an “outperform” rating and set a $162.00 price target on shares of PulteGroup in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $143.14.

Insider Transactions at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lila Snyder sold 3,339 shares of the company’s 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 sale, the director owned 3,540 shares in the company, valued at $414,817.20. The trade was a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.