Moran Wealth Management LLC Sells 13,741 Shares of PulteGroup, Inc. $PHM

Key Points

• Moran Wealth Management cut its PulteGroup position by 8.0% in the first quarter, selling 13,741 shares and ending with 157,052 shares valued at about $18.47 million.
• Insider selling was also notable: COO Matthew William Koart sold 7,457 shares and Director Lila Snyder sold 3,339 shares, reducing their holdings significantly.
• PulteGroup’s latest results and shareholder returns included Q1 EPS of $1.79, just below estimates, and the company also authorized a $1.5 billion share repurchase program while paying a quarterly dividend of $0.26 per share.

Moran Wealth Management LLC decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,052 shares of the construction company's stock after selling 13,741 shares during the period. Moran Wealth Management LLC owned 0.08% of PulteGroup worth $18,471,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PHM. Rachor Investment Advisory Services LLC acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $31,000. DV Equities LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $32,000. HHM Wealth Advisors LLC raised its position in PulteGroup by 158.5% in the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in PulteGroup in the 4th quarter worth approximately $33,000. Finally, High Point Wealth Management LLC bought a new position in PulteGroup in the 4th quarter worth approximately $38,000. Institutional investors own 89.90% of the company's stock.

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 stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at $414,817.20. This trade represents a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by insiders.

PulteGroup Stock Up 0.1%

Shares of NYSE PHM opened at $133.79 on Friday. PulteGroup, Inc. has a 52-week low of $107.07 and a 52-week high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $25.49 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.70 and a beta of 1.18. The firm has a 50 day moving average price of $122.23 and a 200 day moving average price of $124.62.

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 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 during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the business posted $2.57 earnings per share. The company's revenue for the quarter was down 12.4% on a year-over-year basis. Analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current year.

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

PulteGroup Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on PHM shares. Oppenheimer reiterated an "outperform" rating on shares of PulteGroup in a research report on Tuesday, May 26th. Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Bank of America cut their price target on PulteGroup from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. The Goldman Sachs Group raised their price target on PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Finally, UBS Group lifted their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and an average target price of $140.71.

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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