22,904 Shares in PulteGroup, Inc. $PHM Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,904 shares of the construction company’s stock, valued at approximately $2,692,000.

A number of other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its holdings in PulteGroup by 18.3% during the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock worth $57,000 after acquiring an additional 75 shares during the period. Evergreen Capital Management LLC grew its holdings in PulteGroup by 2.8% during the second 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 period. Stephens Inc. AR grew its holdings in PulteGroup by 3.5% during the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after acquiring an additional 80 shares during the period. Perigon Wealth Management LLC grew 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 worth $313,000 after acquiring an additional 92 shares during the period. Finally, Opal Wealth Advisors LLC grew 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 worth $254,000 after acquiring an additional 99 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Down 2.4%

Shares of PHM opened at $121.74 on Thursday. The business’s 50-day moving average price is $119.90 and its 200 day moving average price is $124.13. The stock has a market capitalization of $23.19 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.58 and a beta of 1.20. PulteGroup, Inc. has a 1-year low of $98.27 and a 1-year high of $144.49. 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 (NYSE:PHM) last issued its quarterly 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). The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.57 EPS. Analysts expect that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup declared that its board has authorized a stock buyback plan on Thursday, April 23rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s payout ratio is 10.06%.

Insider Activity

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of PulteGroup 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 of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PHM shares. Wells Fargo & Company lifted their target price on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Barclays dropped their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Finally, UBS Group lifted their price target on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently 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.