Commonwealth Equity Services LLC Has $3.93 Million Stock Holdings in PulteGroup, Inc. $PHM

Commonwealth Equity Services LLC cut its stake in PulteGroup, Inc. (NYSE:PHM) by 23.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,529 shares of the construction company’s stock after selling 10,279 shares during the period. Commonwealth Equity Services LLC’s holdings in PulteGroup were worth $3,932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC raised its holdings in PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after acquiring an additional 78 shares in the last quarter. Stephens Inc. AR raised its holdings in PulteGroup by 3.5% in the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after acquiring an additional 80 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in PulteGroup by 3.6% in the 4th quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock valued at $313,000 after acquiring an additional 92 shares in the last quarter. Opal Wealth Advisors LLC raised its holdings in PulteGroup by 4.8% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock valued at $254,000 after acquiring an additional 99 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in PulteGroup by 1.0% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,520 shares of the construction company’s stock valued at $1,390,000 after acquiring an additional 100 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Truist Financial dropped their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Citigroup lifted their price objective on PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Barclays decreased their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $140.71.

Insiders Place Their Bets

In related news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction 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. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the business’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 owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

PulteGroup Trading Down 0.5%

Shares of PHM opened at $117.76 on Tuesday. PulteGroup, Inc. has a 52-week low of $98.27 and a 52-week high of $144.49. The business’s fifty day moving average is $119.09 and its 200-day moving average is $124.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $22.43 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.50 and a beta of 1.20.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. 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 business posted $2.57 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders 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%.

PulteGroup announced that its Board of Directors has authorized a share repurchase 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 reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.