Vest Financial LLC Increases Holdings in PulteGroup, Inc. $PHM

Key Points

• Vest Financial LLC increased its stake in PulteGroup by 12.0% in Q4 to 465,170 shares (about $54.55M), representing roughly 0.24% of the company.
• PulteGroup approved a $1.50 billion share buyback (up to 6.1% of shares) and pays a $0.26 quarterly dividend (annualized $1.04, 0.8% yield); the company reported Q1 EPS of $1.79 (missed by $0.01) and revenue was down 12.4% year‑over‑year.
• Wall Street sentiment is broadly positive with 11 Buy vs. 6 Hold ratings and an average price target of $140.71; the stock trades near $128.45 with a P/E of ~12.4 and market cap around $24.5B.

Vest Financial LLC increased its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 465,170 shares of the construction company's stock after buying an additional 49,765 shares during the quarter. Vest Financial LLC owned about 0.24% of PulteGroup worth $54,546,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC grew its stake in PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company's stock worth $36,000 after purchasing an additional 200 shares in the last quarter. High Point Wealth Management LLC acquired a new position in PulteGroup during the 4th quarter worth $38,000. Beacon Financial Strategies CORP acquired a new position in PulteGroup during the 4th quarter worth $40,000. True Wealth Design LLC grew its stake in PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company's stock worth $47,000 after purchasing an additional 248 shares in the last quarter. Finally, Fulcrum Asset Management LLP acquired a new position in PulteGroup during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 0.7%

PulteGroup stock opened at $128.45 on Tuesday. PulteGroup, Inc. has a fifty-two week low of $95.20 and a fifty-two 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 company has a market capitalization of $24.47 billion, a P/E ratio of 12.42, a PEG ratio of 1.65 and a beta of 1.33. The stock has a 50-day simple moving average of $125.29 and a 200-day simple moving average of $124.69.

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 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 period in the previous year, the firm posted $2.57 earnings per share. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. Equities research analysts expect that PulteGroup, Inc. will post 10.04 earnings per share for the current year.

PulteGroup Dividend Announcement

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

PulteGroup announced that its board has approved a stock buyback plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citizens Jmp assumed coverage on PulteGroup in a research note on Wednesday, January 7th. They set a "market outperform" rating and a $145.00 target price for the company. Oppenheimer reissued an "outperform" rating and set a $149.00 target price (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. UBS Group upped their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday. Citigroup upped their price objective on PulteGroup from $136.00 to $138.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $145.00 price objective on shares of PulteGroup in a research report on Wednesday, February 4th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $140.71.

Insider Activity

In other PulteGroup news, COO Matthew William Koart sold 15,309 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the sale, the chief operating officer directly owned 42,418 shares of the company's stock, valued at $5,759,940.22. This represents a 26.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the company's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.01, for a total value of $1,919,842.20. Following the sale, the executive vice president directly owned 69,753 shares of the company's stock, valued at approximately $9,417,352.53. This represents a 16.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 149,952 shares of company stock worth $20,162,165 over the last quarter. 0.75% of the stock is owned by 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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