Bayhunt Capital LLC Invests $4.18 Million in PulteGroup, Inc. $PHM

Key Points

• Bayhunt Capital LLC established a new position in PulteGroup (NYSE:PHM) during Q4, acquiring 35,674 shares valued at about $4.18 million, which represents 2.3% of Bayhunt's portfolio and is its 17th-largest holding.
• Company insiders have been net sellers recently—149,952 shares worth $20.16 million were sold in the last 90 days, including Ryan Marshall's sale of 111,250 shares (~$14.89 million); insiders now own about 0.75% of the stock.
• PulteGroup has a market cap of $23.06 billion and a P/E of 10.82, with analysts holding a consensus rating of "Moderate Buy" and a consensus price target of $140; the stock pays a quarterly dividend of $0.26 (annual yield ~0.9%).

Bayhunt Capital LLC acquired a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,674 shares of the construction company's stock, valued at approximately $4,183,000. PulteGroup comprises 2.3% of Bayhunt Capital LLC's portfolio, making the stock its 17th biggest holding.

Several other large investors have also recently made changes to their positions in the stock. Evergreen Capital Management LLC lifted its holdings in shares of PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company's stock worth $304,000 after acquiring an additional 78 shares during the last quarter. Apella Capital LLC lifted its holdings in shares of PulteGroup by 4.2% in the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company's stock worth $268,000 after acquiring an additional 87 shares during the last quarter. CWM LLC lifted its holdings in shares of PulteGroup by 0.6% in the 3rd quarter. CWM LLC now owns 14,308 shares of the construction company's stock worth $1,890,000 after acquiring an additional 92 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of PulteGroup by 3.6% in the 4th quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company's stock worth $313,000 after acquiring an additional 92 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of PulteGroup by 5.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company's stock worth $229,000 after acquiring an additional 94 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Price Performance

Shares of PHM opened at $120.37 on Friday. PulteGroup, Inc. has a fifty-two week low of $89.81 and a fifty-two week high of $144.49. The firm's 50 day moving average price is $127.51 and its 200 day moving average price is $125.18. The company has a market cap of $23.06 billion, a P/E ratio of 10.82, a PEG ratio of 1.40 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup's dividend payout ratio is currently 9.35%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PHM shares. Wells Fargo & Company cut their target price on shares of PulteGroup from $150.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday. Oppenheimer reaffirmed an "outperform" rating and set a $149.00 target price (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Truist Financial started coverage on shares of PulteGroup in a research note on Wednesday, March 4th. They set a "buy" rating and a $170.00 target price on the stock. The Goldman Sachs Group cut their target price on shares of PulteGroup from $150.00 to $133.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $145.00 target price on shares of PulteGroup in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Insider Buying and Selling

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the sale, the executive vice president directly owned 14,673 shares of the company's stock, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ryan Marshall sold 111,250 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the completion of the sale, the insider directly owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 149,952 shares of company stock worth $20,162,165. Corporate insiders own 0.75% of the company's stock.

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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