PulteGroup, Inc. $PHM Shares Sold by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors cut its stake by 37.1%, selling 49,690 shares in Q4 and leaving it with 84,140 shares worth about $9.87 million; institutional investors and hedge funds now own roughly 89.9% of PulteGroup.
• Company insiders have been net sellers, disposing of 149,952 shares worth $20.16 million in the past 90 days (including large sales by VP Brien P. O'Meara and Ryan Marshall), leaving insiders with just 0.75% ownership.
• PulteGroup approved a $1.5 billion buyback (up to 6.1% of shares) while reporting quarterly EPS of $1.79—missing estimates by $0.01—and revenue down 12.4% year-over-year.

Sanctuary Advisors LLC cut its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 37.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,140 shares of the construction company's stock after selling 49,690 shares during the quarter. Sanctuary Advisors LLC's holdings in PulteGroup were worth $9,866,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Concurrent Investment Advisors LLC grew its position in shares of PulteGroup by 166.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company's stock worth $1,964,000 after buying an additional 10,467 shares in the last quarter. Diversified Enterprises LLC acquired a new position in shares of PulteGroup during the fourth quarter worth about $314,000. Spectrum Investment Advisors Inc. acquired a new position in shares of PulteGroup during the fourth quarter worth about $235,000. Quent Long Short Global Small Cap Fund LP acquired a new position in shares of PulteGroup during the fourth quarter worth about $345,000. Finally, HB Wealth Management LLC grew its position in shares of PulteGroup by 10.3% during the fourth quarter. HB Wealth Management LLC now owns 5,115 shares of the construction company's stock worth $600,000 after buying an additional 477 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PulteGroup news, VP Brien P. O'meara sold 4,000 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the completion of the sale, the vice president owned 8,601 shares in the company, valued at approximately $1,165,521.51. The trade was a 31.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan Marshall sold 111,250 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the sale, the insider owned 659,392 shares of the company's stock, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 149,952 shares of company stock valued at $20,162,165 in the last 90 days. Company insiders own 0.75% of the company's stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $128.45 on Tuesday. 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 twelve month low of $95.20 and a twelve month high of $144.49. The stock has a 50 day moving average of $125.29 and a two-hundred day moving average of $124.69. The stock has a market cap of $24.47 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.65 and a beta of 1.33.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data 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 firm 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. PulteGroup's quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts forecast that PulteGroup, Inc. will post 10.04 earnings per share for the current year.

PulteGroup announced that its board has approved a stock buyback program on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PHM shares. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Wall Street Zen raised PulteGroup from a "sell" rating to a "hold" rating in a research report on Sunday, January 11th. UBS Group boosted their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday. Weiss Ratings raised PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, January 12th. Finally, Evercore upped their price target on PulteGroup from $146.00 to $151.00 and gave the company an "outperform" rating in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

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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