Bogart Wealth LLC Trims Holdings in PulteGroup, Inc. $PHM

Key Points

• Bogart Wealth LLC cut its stake in PulteGroup by 19.0% in Q4, leaving it with 57,758 shares worth about $6.77 million.
• PulteGroup reported quarterly EPS of $1.79 (a $0.01 miss) and revenue of $3.41 billion (down 12.4% YoY), and its board authorized a $1.5 billion share buyback while maintaining a $0.26 quarterly dividend (0.8% yield).
• Analysts hold a consensus "Moderate Buy" rating with an average target of $140.71 while the stock trades near $124.87, and insiders have sold roughly 149,952 shares (~$20.16M) in the past 90 days.

Bogart Wealth LLC cut its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,758 shares of the construction company's stock after selling 13,561 shares during the quarter. Bogart Wealth LLC's holdings in PulteGroup were worth $6,773,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Evergreen Capital Management LLC boosted its stake in PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company's stock valued at $304,000 after buying an additional 78 shares during the period. Apella Capital LLC boosted its stake in PulteGroup by 4.2% during the third quarter. Apella Capital LLC now owns 2,163 shares of the construction company's stock valued at $268,000 after buying an additional 87 shares during the period. CWM LLC boosted its stake in PulteGroup by 0.6% during the third quarter. CWM LLC now owns 14,308 shares of the construction company's stock valued at $1,890,000 after buying an additional 92 shares during the period. Perigon Wealth Management LLC boosted its stake in PulteGroup by 3.6% during the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company's stock valued at $313,000 after buying an additional 92 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in PulteGroup by 5.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company's stock valued at $229,000 after buying an additional 94 shares during the period. Institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

PHM has been the subject of several research analyst reports. Wall Street Zen raised PulteGroup from a "sell" rating to a "hold" rating in a research note on Sunday, January 11th. UBS Group lifted their price objective on PulteGroup from $159.00 to $162.00 and gave the company a "buy" rating in a research note on Friday. Royal Bank Of Canada lifted their price objective on PulteGroup from $111.00 to $115.00 and gave the company a "sector perform" rating in a research note on Friday, January 30th. Raymond James Financial reissued an "outperform" rating and set a $145.00 price objective on shares of PulteGroup in a research note on Wednesday, February 4th. Finally, Citigroup lifted their price objective on PulteGroup from $136.00 to $138.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.71.

PulteGroup Trading Down 2.7%

Shares of PHM stock opened at $124.87 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $124.96 and a two-hundred day moving average price of $124.73. PulteGroup, Inc. has a 12-month low of $95.20 and a 12-month high of $144.49. The firm has a market cap of $23.79 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.62 and a beta of 1.33.

PulteGroup (NYSE:PHM - Get Free Report) 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 return on equity of 16.41% and a net margin of 12.14%.The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the firm earned $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 10.06 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup's payout ratio is 10.06%.

PulteGroup declared that its board has approved a stock buyback 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In other PulteGroup news, VP Brien P. O'meara sold 4,000 shares of PulteGroup stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the completion of the sale, the vice president owned 8,601 shares of the company's stock, valued at $1,165,521.51. The trade was a 31.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.79, for a total value of $2,078,809.11. Following the sale, the chief operating officer directly owned 42,418 shares of the company's stock, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 149,952 shares of company stock valued at $20,162,165. 0.75% of the stock is owned by insiders.

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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