Colonial River Wealth Management LLC Purchases Shares of 3,989 PulteGroup, Inc. (NYSE:PHM)

Colonial River Wealth Management LLC purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHMFree Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,989 shares of the construction company’s stock, valued at approximately $412,000.

A number of other institutional investors have also made changes to their positions in PHM. Clear Street Markets LLC boosted its stake in shares of PulteGroup by 90.9% in the first quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock valued at $26,000 after purchasing an additional 210 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in shares of PulteGroup in the fourth quarter valued at approximately $26,000. Coppell Advisory Solutions LLC purchased a new position in shares of PulteGroup in the second quarter valued at approximately $29,000. West Tower Group LLC purchased a new position in shares of PulteGroup in the second quarter valued at approximately $30,000. Finally, Arlington Trust Co LLC purchased a new position in shares of PulteGroup in the third quarter valued at approximately $33,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM opened at $114.20 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $24.10 billion, a P/E ratio of 9.73, a P/E/G ratio of 0.80 and a beta of 1.56. The company’s fifty day moving average is $108.84 and its two-hundred day moving average is $95.06. PulteGroup, Inc. has a 1 year low of $57.26 and a 1 year high of $121.07.

PulteGroup (NYSE:PHMGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. PulteGroup’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.63 EPS. On average, sell-side analysts predict that PulteGroup, Inc. will post 11.78 earnings per share for the current year.

PulteGroup announced that its board has approved a stock repurchase program on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.70%. PulteGroup’s dividend payout ratio is currently 6.81%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PHM. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Royal Bank of Canada lifted their price target on shares of PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Raymond James boosted their price objective on shares of PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays boosted their price objective on shares of PulteGroup from $120.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, UBS Group downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.87.

Check Out Our Latest Stock Report on PulteGroup

PulteGroup Profile

(Free Report)

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.

Further Reading

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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