Strategic Investment Advisors MI Acquires 7,731 Shares of PulteGroup, Inc. $PHM

Strategic Investment Advisors MI grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 182.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,970 shares of the construction company’s stock after acquiring an additional 7,731 shares during the period. Strategic Investment Advisors MI’s holdings in PulteGroup were worth $1,408,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. National Pension Service boosted its holdings in PulteGroup by 3.8% in the fourth quarter. National Pension Service now owns 507,443 shares of the construction company’s stock worth $59,503,000 after purchasing an additional 18,455 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in PulteGroup by 166.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock valued at $1,964,000 after buying an additional 10,467 shares in the last quarter. Dorato Capital Management bought a new position in PulteGroup during the fourth quarter valued at about $2,625,000. Bayhunt Capital LLC acquired a new stake in shares of PulteGroup in the fourth quarter worth about $4,183,000. Finally, Ritholtz Wealth Management lifted its position in shares of PulteGroup by 43.2% in the fourth quarter. Ritholtz Wealth Management now owns 91,473 shares of the construction company’s stock worth $10,726,000 after buying an additional 27,590 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Down 1.8%

Shares of PHM opened at $132.30 on Thursday. The stock’s 50-day moving average price is $125.29 and its 200 day moving average price is $125.54. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $24.80 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.67 and a beta of 1.18. PulteGroup, Inc. has a 12-month low of $108.49 and a 12-month high of $144.49.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $3.03 EPS. As a group, research analysts predict that PulteGroup, Inc. will post 10.08 earnings per share for the current year.

PulteGroup declared that its Board of Directors has initiated a share buyback program on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Seaport Research Partners restated a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Evercore reaffirmed an “outperform” rating and set a $162.00 target price on shares of PulteGroup in a research report on Thursday, July 23rd. The Goldman Sachs Group increased 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, Bank of America dropped their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.14.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director directly 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 owned by company insiders.

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.