Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Holdings in PulteGroup, Inc. $PHM

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 51.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,300 shares of the construction company’s stock after purchasing an additional 5,519 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in PulteGroup were worth $1,917,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC boosted its position 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 acquiring an additional 198 shares during the last quarter. Rachor Investment Advisory Services LLC bought a new stake in PulteGroup in the 4th quarter valued at $31,000. DV Equities LLC bought a new stake in PulteGroup in the 4th quarter valued at $32,000. HHM Wealth Advisors LLC lifted its stake in PulteGroup by 158.5% in the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after purchasing an additional 168 shares in the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new stake in PulteGroup in the 4th quarter worth $33,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at $3,372,000. This trade represents a 20.97% decrease in their position. The transaction was disclosed in a document filed 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 that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. This represents 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.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PHM shares. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Truist Financial decreased their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Seaport Research Partners reissued a “sell” rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Evercore raised their price target on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Bank of America reduced their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.21.

PulteGroup Stock Performance

PulteGroup stock opened at $125.59 on Thursday. The company’s 50-day moving average price is $122.51 and its 200-day moving average price is $124.91. 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 $23.92 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. PulteGroup, Inc. has a twelve month low of $107.16 and a twelve month high of $144.49.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.57 EPS. On average, equities research analysts forecast that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup declared that its board has authorized a share buyback plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s dividend payout ratio is 10.06%.

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.