Burney Co. Decreases Stake in PulteGroup, Inc. $PHM

Key Points

• Burney Co. cut its PulteGroup position by 71.3% in the first quarter, leaving it with 4,743 shares valued at about $558,000.
• Several other institutional investors adjusted holdings, and hedge funds and other institutions now own 89.9% of PulteGroup’s stock.
• PulteGroup recently reported EPS of $1.79 versus the $1.80 estimate and announced a $1.5 billion share buyback; analysts currently have a Moderate Buy consensus with a $141.43 target price.

Burney Co. lessened its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 71.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,743 shares of the construction company's stock after selling 11,805 shares during the period. Burney Co.'s holdings in PulteGroup were worth $558,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PHM. Integrated Advisors Network LLC purchased a new stake in PulteGroup during the 1st quarter worth about $3,888,000. Kathmere Capital Management LLC increased its holdings in shares of PulteGroup by 20.3% in the 1st quarter. Kathmere Capital Management LLC now owns 11,067 shares of the construction company's stock valued at $1,302,000 after acquiring an additional 1,867 shares during the last quarter. Bogart Wealth LLC increased its holdings in shares of PulteGroup by 3.3% in the 1st quarter. Bogart Wealth LLC now owns 59,677 shares of the construction company's stock valued at $7,019,000 after acquiring an additional 1,919 shares during the last quarter. Ascentis Independent Advisors raised its position in shares of PulteGroup by 25.1% during the 1st quarter. Ascentis Independent Advisors now owns 3,762 shares of the construction company's stock worth $442,000 after acquiring an additional 755 shares in the last quarter. Finally, Seascape Capital Management raised its position in shares of PulteGroup by 1.7% during the 1st quarter. Seascape Capital Management now owns 43,384 shares of the construction company's stock worth $5,102,000 after acquiring an additional 727 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Lila Snyder sold 3,339 shares of the business's 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 transaction, the director owned 3,540 shares of the company's stock, valued at approximately $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the 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 directly owned 28,100 shares of the company's stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PHM. Oppenheimer reaffirmed an "outperform" rating on shares of PulteGroup in a report on Tuesday, May 26th. The Goldman Sachs Group raised their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Bank of America reduced their price objective 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. Seaport Research Partners reiterated a "sell" rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Finally, Evercore boosted their price target on shares of PulteGroup from $146.00 to $151.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.43.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $123.72 on Friday. The firm's fifty day simple moving average is $122.16 and its 200-day simple moving average is $124.75. PulteGroup, Inc. has a 12 month low of $107.16 and a 12 month high of $144.49. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.57 and a beta of 1.18. 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 issued its quarterly earnings data 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). The business had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.57 earnings per share. As a group, equities analysts forecast that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

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

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup's dividend payout ratio is currently 10.06%.

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.

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