Marble Wealth LLC Purchases New Stake in PulteGroup, Inc. $PHM

Marble Wealth LLC acquired a new position in PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,703 shares of the construction company’s stock, valued at approximately $786,000.

Several other large investors also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC increased its holdings in PulteGroup by 2.8% in the 2nd 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 last quarter. Stephens Inc. AR increased its holdings in PulteGroup by 3.5% in the 4th 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 last quarter. Perigon Wealth Management LLC increased its holdings in PulteGroup by 3.6% in the 4th 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 last quarter. Opal Wealth Advisors LLC increased its holdings in PulteGroup by 4.8% in the 4th 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 last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in PulteGroup by 1.0% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,520 shares of the construction company’s stock worth $1,390,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PHM. Weiss Ratings lowered PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Wells Fargo & Company lifted their price objective on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. The Goldman Sachs Group lifted their price objective on PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Evercore lifted their price objective on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, UBS Group lifted their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Stock Down 0.5%

Shares of NYSE PHM opened at $117.19 on Thursday. PulteGroup, Inc. has a 52 week low of $98.27 and a 52 week high of $144.49. The business has a 50-day simple moving average of $119.07 and a two-hundred day simple moving average of $124.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The company has a market cap of $22.32 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.49 and a beta of 1.20.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the business earned $2.57 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts anticipate that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business 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 $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

PulteGroup announced that its Board of Directors has initiated a share buyback plan on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the sale, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

PulteGroup 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.