Atlas Capital Advisors Inc. Purchases New Holdings in PulteGroup, Inc. $PHM

Key Points

• Atlas Capital Advisors opened a new position in PulteGroup during the fourth quarter, buying 8,388 shares valued at about $984,000.
• PulteGroup’s stock has seen significant institutional activity, with firms like Norges Bank, American Century, and Franklin Resources building or expanding holdings; roughly 89.9% of shares are owned by hedge funds and other institutions.
• The homebuilder reported mixed fundamentals: quarterly EPS of $1.79 slightly missed estimates, revenue came in at $3.41 billion, and the board approved a $1.5 billion share repurchase program along with a quarterly dividend of $0.26 per share.

Atlas Capital Advisors Inc. purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,388 shares of the construction company's stock, valued at approximately $984,000.

Several other large investors have also bought and sold shares of PHM. Norges Bank purchased a new position in PulteGroup in the fourth quarter worth about $466,653,000. American Century Companies Inc. raised its holdings in PulteGroup by 120.4% in the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company's stock worth $225,024,000 after buying an additional 930,287 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in PulteGroup by 5,485.0% in the fourth quarter. Public Sector Pension Investment Board now owns 930,622 shares of the construction company's stock worth $109,125,000 after buying an additional 913,959 shares during the last quarter. Franklin Resources Inc. raised its holdings in PulteGroup by 5.1% in the fourth 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. Finally, Milford Funds Ltd. purchased a new position in PulteGroup in the fourth quarter worth about $68,379,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares of the company's stock, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of 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 position. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by insiders.

PulteGroup Stock Performance

PHM opened at $123.13 on Monday. The firm has a market cap of $23.45 billion, a P/E ratio of 11.91, a PEG ratio of 1.56 and a beta of 1.20. PulteGroup, Inc. has a 1-year low of $98.27 and a 1-year high of $144.49. The company has a 50 day simple moving average of $119.61 and a two-hundred day simple moving average of $124.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 16.41% and a net margin of 12.14%.The business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 earnings per share. Equities analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup declared that its board has approved a stock repurchase program on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically 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 given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 16th. PulteGroup's dividend payout ratio is presently 10.06%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group lifted their target price on shares of PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Weiss Ratings lowered shares of PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Truist Financial cut their target price on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Bank of America cut their target price 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. Finally, The Goldman Sachs Group boosted their target price on shares of PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.

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