Integrated Advisors Network LLC Acquires New Stake in PulteGroup, Inc. $PHM

Key Points

• Integrated Advisors Network LLC disclosed a new position in PulteGroup, buying 33,060 shares worth about $3.89 million in the first quarter.
• PulteGroup remains heavily owned by institutions, with 89.90% of the stock held by hedge funds and other institutional investors, while insiders own just 0.75%.
• The company recently reported mixed quarterly results, missing EPS estimates by a penny, and also announced a $1.5 billion share buyback along with a quarterly dividend of $0.26 per share.

Integrated Advisors Network LLC acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,060 shares of the construction company's stock, valued at approximately $3,888,000.

A number of other large investors have also bought and sold shares of PHM. Golden State Wealth Management LLC lifted its position in shares of PulteGroup by 18.3% during the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company's stock valued at $57,000 after buying an additional 75 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company's stock worth $304,000 after acquiring an additional 78 shares during the last quarter. Stephens Inc. AR raised its stake in PulteGroup by 3.5% in the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company's stock valued at $276,000 after acquiring an additional 80 shares during the period. Perigon Wealth Management LLC lifted its holdings 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 purchasing an additional 92 shares during the last quarter. Finally, Opal Wealth Advisors LLC lifted its holdings in PulteGroup by 4.8% during 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. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Evercore lifted their target price on shares of PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. The Goldman Sachs Group upped their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings downgraded shares of PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, April 27th. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Finally, Truist Financial reduced their price objective on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.43.

Insider Activity at PulteGroup

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the sale, the director directly owned 3,540 shares in the company, valued at $414,817.20. This represents a 48.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the firm's stock in a transaction on 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 directly owned 28,100 shares of the company's stock, valued at approximately $3,372,000. The trade was 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 insiders.

PulteGroup Price Performance

PHM traded down $0.30 during trading on Tuesday, reaching $131.08. 176,251 shares of the company were exchanged, compared to its average volume of 1,861,425. PulteGroup, Inc. has a 12-month low of $107.16 and a 12-month high of $144.49. The company's 50-day moving average is $122.25 and its two-hundred day moving average is $124.66. 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 company has a market cap of $24.97 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.70 and a beta of 1.18.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The company had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.40 billion. During the same period in the previous year, the firm earned $2.57 EPS. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts forecast that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors 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 payout ratio is currently 10.06%.

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

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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