Eventide Asset Management LLC Purchases Shares of 4,457 PulteGroup, Inc. $PHM

Eventide Asset Management LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,457 shares of the construction company’s stock, valued at approximately $526,000.

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

Wall Street Analyst Weigh In

PHM has been the subject of several research analyst reports. Citigroup lifted their price target on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays reduced their price objective on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Wells Fargo & Company lifted their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Truist Financial reduced their price objective on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Stock Down 0.4%

PulteGroup stock opened at $122.66 on Tuesday. PulteGroup, Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $144.49. The stock has a market cap of $23.37 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. The firm’s 50-day simple moving average is $119.71 and its 200 day simple moving average is $124.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share 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 firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the firm posted $2.57 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts predict that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

PulteGroup announced that its Board of Directors has approved a stock repurchase program on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other PulteGroup news, 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. The trade was a 48.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 directly owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by insiders.

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.