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

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its holdings in shares of PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after buying an additional 198 shares in the last quarter. NFSG Corp acquired a new position in shares of PulteGroup in the 1st quarter worth approximately $29,000. Rachor Investment Advisory Services LLC bought a new stake in PulteGroup during the 4th quarter worth approximately $31,000. HHM Wealth Advisors LLC increased its holdings in PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Finally, DV Equities LLC bought a new position in PulteGroup in the 4th quarter valued at $32,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the business’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 transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is owned by company insiders.

PulteGroup Stock Down 1.8%

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

PulteGroup (NYSE:PHM) last released its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the firm posted $3.03 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts expect that PulteGroup, Inc. will post 10.08 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

PHM has been the topic of several research analyst reports. Royal Bank Of Canada increased their target price on PulteGroup from $115.00 to $116.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. Truist Financial decreased their price objective 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. Evercore restated an “outperform” rating and issued a $162.00 price objective on shares of PulteGroup in a research report on Thursday, July 23rd. Bank of America reduced their target price 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. Finally, Citigroup decreased their price target on shares of PulteGroup from $138.00 to $134.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.14.

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.