Fieldview Capital Management LLC Takes $1.88 Million Position in PulteGroup, Inc. $PHM

Key Points

• Fieldview Capital Management opened a new position in PulteGroup, buying 16,069 shares worth about $1.88 million in the fourth quarter.
• PulteGroup reported quarterly earnings of $1.79 per share, missing estimates by a penny, while revenue of $3.41 billion slightly beat expectations but fell 12.4% year over year.
• The company announced a quarterly dividend of $0.26 per share and authorized a $1.5 billion share repurchase program, signaling confidence in its stock despite recent insider sales and mixed analyst sentiment.

Fieldview Capital Management LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,069 shares of the construction company's stock, valued at approximately $1,884,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of PulteGroup by 18.3% in the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company's stock valued at $57,000 after purchasing an additional 75 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in shares of PulteGroup by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company's stock valued at $304,000 after purchasing an additional 78 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of PulteGroup by 3.5% in the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company's stock valued at $276,000 after purchasing an additional 80 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of PulteGroup by 3.6% in the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company's stock valued at $313,000 after purchasing an additional 92 shares during the last quarter. Finally, Opal Wealth Advisors LLC raised its holdings in shares of PulteGroup by 4.8% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company's stock valued at $254,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

PHM opened at $123.13 on Friday. The firm has a market cap of $23.45 billion, a P/E ratio of 11.91, a PEG ratio of 1.56 and a beta of 1.20. The firm has a 50-day moving average of $119.61 and a 200 day moving average of $124.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. PulteGroup, Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. PulteGroup's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.57 EPS. On average, research analysts expect that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup's dividend payout ratio is presently 10.06%.

PulteGroup declared that its Board of Directors has authorized a share repurchase program on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on PHM shares. Truist Financial lowered their target price on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Weiss Ratings downgraded shares of PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, April 27th. The Goldman Sachs Group increased their target price on shares of PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Wells Fargo & Company increased their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Finally, Evercore increased 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 investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $140.71.

Insider Transactions at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the transaction, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lila Snyder sold 3,339 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director owned 3,540 shares of the company's stock, valued at $414,817.20. This represents a 48.54% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by company insiders.

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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