Concurrent Investment Advisors LLC Buys 10,467 Shares of PulteGroup, Inc. $PHM

Key Points

• Concurrent Investment Advisors LLC increased its stake in PulteGroup by 166.5% in Q4, buying 10,467 shares to hold 16,753 shares worth about $1.964 million.
• PulteGroup's board authorized a $1.50 billion share repurchase plan (up to ~6.1% of outstanding shares) and the company pays a quarterly dividend of $0.26 per share (annualized $1.04, ~0.8% yield).
• Institutional investors own about 89.9% of PHM, analysts' consensus is a "Moderate Buy" with an average price target of $140.71, while insiders have sold ~149,952 shares (~$20.16 million) in the last 90 days.

Concurrent Investment Advisors LLC lifted its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 166.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,753 shares of the construction company's stock after acquiring an additional 10,467 shares during the period. Concurrent Investment Advisors LLC's holdings in PulteGroup were worth $1,964,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PHM. Massachusetts Financial Services Co. MA bought a new stake in PulteGroup during the third quarter valued at $315,883,000. AGF Management Ltd. bought a new stake in PulteGroup during the third quarter valued at $174,347,000. American Century Companies Inc. boosted its stake in PulteGroup by 120.4% during the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company's stock valued at $225,024,000 after buying an additional 930,287 shares during the period. Franklin Resources Inc. boosted its stake in PulteGroup by 5.0% during the third quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company's stock valued at $1,704,513,000 after buying an additional 609,640 shares during the period. Finally, First Trust Advisors LP boosted its stake in PulteGroup by 13.3% during the third quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company's stock valued at $478,828,000 after buying an additional 424,011 shares during the period. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PHM. 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. Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Truist Financial lowered 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. Wells Fargo & Company raised their price target on PulteGroup from $132.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Weiss Ratings upgraded PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, January 12th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and an average price target of $140.71.

Insider Activity at PulteGroup

In other PulteGroup news, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the sale, the insider directly owned 659,392 shares of the company's stock, valued at approximately $88,266,213.12. The trade was a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction that occurred on Friday, February 6th. The shares were 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 in the company, valued at approximately $5,759,940.22. The trade was a 26.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 149,952 shares of company stock worth $20,162,165 over the last 90 days. 0.75% of the stock is owned by insiders.

PulteGroup Stock Down 2.7%

PHM opened at $124.87 on Wednesday. The company has a market cap of $23.79 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.62 and a beta of 1.33. The business's 50-day moving average price is $124.96 and its 200-day moving average price is $124.73. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12 month low of $95.20 and a 12 month high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 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 company had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. The firm's quarterly revenue was down 12.4% on a year-over-year basis. On average, equities analysts expect that PulteGroup, Inc. will post 10.06 EPS for the current year.

PulteGroup Dividend Announcement

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

PulteGroup declared that its board has initiated a stock repurchase plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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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