PulteGroup, Inc. $PHM Shares Bought by Edgestream Partners L.P.

Key Points

• Edgestream Partners increased its PulteGroup stake by 11.2% in the first quarter, bringing its holdings to 75,545 shares valued at approximately $8.9 million. Institutional investors collectively own 89.9% of PHM’s outstanding stock.
• PulteGroup insiders recently sold shares, including COO Matthew William Koart’s $894,840 transaction and Director Lila Snyder’s $391,264 sale. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $143.14.
• PulteGroup exceeded quarterly earnings and revenue expectations, reporting $2.48 in EPS and $3.98 billion in revenue, while revenue declined 9.6% year over year. The company also authorized a $1.5 billion share-repurchase program, covering up to 6.1% of outstanding shares.

Edgestream Partners L.P. grew its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,545 shares of the construction company's stock after purchasing an additional 7,609 shares during the quarter. Edgestream Partners L.P.'s holdings in PulteGroup were worth $8,885,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its position in shares of PulteGroup by 1,650.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company's stock valued at $25,000 after purchasing an additional 198 shares during the period. NFSG Corp acquired a new position in PulteGroup during the first quarter worth approximately $29,000. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup during the fourth quarter worth approximately $31,000. DV Equities LLC purchased a new stake in PulteGroup in the fourth quarter valued at approximately $32,000. Finally, HHM Wealth Advisors LLC lifted its stake in PulteGroup by 158.5% in the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock valued at $32,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Insider Buying and Selling at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares of the company's stock, valued at $3,372,000. The trade was 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 accessible through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the business's 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 in the company, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PHM. Truist Financial lowered their target price on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Royal Bank Of Canada upped their price target on shares of PulteGroup from $115.00 to $116.00 and gave the company a "sector perform" rating in a research report on Thursday, July 23rd. Barclays increased their price target on shares of PulteGroup from $123.00 to $124.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Seaport Research Partners reissued a "sell" rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Finally, Evercore restated an "outperform" rating and issued a $162.00 price objective on shares of PulteGroup in a research note on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.14.

PulteGroup Trading Down 1.8%

Shares of PHM stock opened at $132.30 on Thursday. The company has a market capitalization of $24.80 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The business's 50 day moving average is $125.29 and its two-hundred day moving average is $125.54. PulteGroup, Inc. has a twelve month low of $108.49 and a twelve month high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the prior year, the business earned $3.03 earnings per share. The company's quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts forecast that PulteGroup, Inc. will post 10.08 EPS for the current year.

PulteGroup announced that its Board of Directors has authorized a share buyback 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 reacquire up to 6.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are 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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