Bellwether Advisors LLC Makes New Investment in PulteGroup, Inc. $PHM

Key Points

• Bellwether Advisors LLC opened a new position in PulteGroup during the fourth quarter, buying 19,542 shares worth about $2.29 million.
• PulteGroup reported quarterly EPS of $1.79, narrowly missing estimates, while revenue came in at $3.41 billion, slightly above expectations but down 12.4% from a year earlier.
• The company’s board authorized a $1.5 billion stock buyback and declared a quarterly dividend of $0.26 per share, payable July 2, giving an annualized yield of about 0.9%.

Bellwether Advisors LLC acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 19,542 shares of the construction company's stock, valued at approximately $2,291,000.

Several other institutional investors have also recently modified their holdings of the company. Arvest Bank Trust Division bought a new position in shares of PulteGroup during the 4th quarter valued at about $263,000. AlphaQuest LLC increased its position in shares of PulteGroup by 384.7% during the 4th quarter. AlphaQuest LLC now owns 12,239 shares of the construction company's stock valued at $1,435,000 after purchasing an additional 9,714 shares during the last quarter. Kestra Investment Management LLC increased its position in shares of PulteGroup by 7.1% during the 4th quarter. Kestra Investment Management LLC now owns 3,089 shares of the construction company's stock valued at $362,000 after purchasing an additional 205 shares during the last quarter. Allstate Corp increased its position in shares of PulteGroup by 87.4% during the 4th quarter. Allstate Corp now owns 13,535 shares of the construction company's stock valued at $1,587,000 after purchasing an additional 6,311 shares during the last quarter. Finally, Summitry LLC bought a new position in shares of PulteGroup during the 4th quarter valued at about $394,000. 89.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director owned 3,540 shares in the company, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.75% of the company's stock.

PulteGroup Trading Up 1.2%

NYSE PHM opened at $117.86 on Wednesday. PulteGroup, Inc. has a fifty-two week low of $95.20 and a fifty-two week high of $144.49. 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 stock has a 50 day simple moving average of $119.14 and a two-hundred day simple moving average of $124.07. The stock has a market cap of $22.45 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter last year, the business posted $2.57 EPS. The company's quarterly revenue was down 12.4% compared to the same quarter last year. On average, analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup announced that its board has authorized a stock repurchase program on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup's dividend payout ratio (DPR) is 10.06%.

Analysts Set New Price Targets

Several brokerages have recently commented on PHM. Citigroup increased their price objective on PulteGroup from $136.00 to $138.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Weiss Ratings lowered PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Seaport Research Partners restated a "sell" rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Truist Financial reduced their price target on PulteGroup from $170.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Finally, Evercore raised their price target on PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.71.

About PulteGroup

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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