PulteGroup, Inc. $PHM Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in PulteGroup, Inc. (NYSE:PHM) by 11.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,545 shares of the construction company’s stock after acquiring an additional 7,609 shares during the quarter. Edgestream Partners L.P.’s holdings in PulteGroup were worth $8,885,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PHM. Focus Partners Wealth boosted its holdings in PulteGroup by 20.5% during the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after buying an additional 2,128 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in PulteGroup by 197.1% in the second 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 lifted its position in shares of 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 acquiring an additional 975 shares during the period. Baird Financial Group Inc. lifted its position in shares of 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 acquiring an additional 2,164 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after acquiring an additional 6,240 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PHM. Truist Financial lowered their price target on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Citigroup reduced their price objective on PulteGroup from $138.00 to $134.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Wells Fargo & Company upped their target price on PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, July 6th. UBS Group restated a “buy” rating and issued a $166.00 price target on shares of PulteGroup in a research report on Thursday, July 23rd. Finally, Bank of America cut their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $143.14.

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lila Snyder sold 3,339 shares of the stock in a transaction 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 directly owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.75% of the company’s stock.

PulteGroup Trading Down 1.8%

Shares of PulteGroup stock opened at $132.30 on Thursday. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day moving average price of $125.29 and a 200 day moving average price of $125.54. The company has a market capitalization of $24.80 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.67 and a beta of 1.18.

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

PulteGroup announced that its board has initiated a stock buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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.