31,075 Shares in PulteGroup, Inc. $PHM Purchased by FJ Capital Management LLC

FJ Capital Management LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 31,075 shares of the construction company’s stock, valued at approximately $3,644,000.

Other large investors have also recently bought and sold shares of the company. Rachor Investment Advisory Services LLC bought a new position in PulteGroup in the 4th quarter valued at about $31,000. Lloyd Advisory Services LLC. bought a new position in PulteGroup in the 4th quarter valued at about $33,000. High Point Wealth Management LLC bought a new position in PulteGroup in the 4th quarter valued at about $38,000. Beacon Financial Strategies CORP bought a new position in PulteGroup in the 4th quarter valued at about $40,000. Finally, Elyxium Wealth LLC bought a new position in PulteGroup in the 4th quarter valued at about $41,000. 89.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Stock Performance

NYSE PHM opened at $123.13 on Friday. 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 capitalization of $23.45 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.56 and a beta of 1.20. PulteGroup, Inc. has a 12-month low of $98.27 and a 12-month high of $144.49. The firm has a 50-day moving average price of $119.61 and a two-hundred day moving average price of $124.18.

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

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

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio is 10.06%.

Analyst Ratings Changes

Several research analysts have weighed in on PHM shares. Truist Financial lowered their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Bank of America lowered their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Wells Fargo & Company increased their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Seaport Research Partners reissued a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Finally, Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price 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.