Assetmark Inc. Has $58.78 Million Stake in PulteGroup, Inc. $PHM

Assetmark Inc. lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 21.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 499,780 shares of the construction company’s stock after selling 133,540 shares during the period. Assetmark Inc. owned 0.26% of PulteGroup worth $58,779,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Golden State Wealth Management LLC boosted its stake in PulteGroup by 18.3% in the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock worth $57,000 after purchasing an additional 75 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in PulteGroup by 2.8% during the second 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 in the last quarter. Stephens Inc. AR increased its stake in PulteGroup by 3.5% during the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after purchasing an additional 80 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in PulteGroup by 3.6% during the 4th quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock worth $313,000 after buying an additional 92 shares during the period. Finally, Opal Wealth Advisors LLC grew its stake in shares of PulteGroup by 4.8% during 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 in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction 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 transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PHM shares. Truist Financial reduced their price target on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Barclays increased their price objective on PulteGroup from $112.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday. Bank of America decreased their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Oppenheimer restated an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Finally, Seaport Research Partners reaffirmed a “sell” rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.21.

PulteGroup Trading Down 2.4%

NYSE PHM opened at $125.92 on Friday. PulteGroup, Inc. has a twelve month low of $107.91 and a twelve month high of $144.49. The business’s fifty day moving average is $122.92 and its 200 day moving average is $124.99. 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 $23.99 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.64 and a beta of 1.18.

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). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the business posted $2.57 earnings per share. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a stock repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

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

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.