California Public Employees Retirement System Buys 16,536 Shares of PulteGroup, Inc. $PHM

California Public Employees Retirement System grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 420,701 shares of the construction company’s stock after purchasing an additional 16,536 shares during the period. California Public Employees Retirement System’s holdings in PulteGroup were worth $49,479,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PHM. Golden State Wealth Management LLC grew its holdings in PulteGroup by 18.3% during the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after buying an additional 75 shares in the last quarter. Evergreen Capital Management LLC increased its stake in PulteGroup by 2.8% in the 2nd 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 during the last quarter. Stephens Inc. AR raised its holdings in shares of 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 acquiring an additional 80 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 92 shares in the last quarter. Finally, Opal Wealth Advisors LLC boosted its position 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 valued at $254,000 after acquiring an additional 99 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 2.2%

Shares of PHM opened at $123.27 on Tuesday. The firm has a market capitalization of $23.48 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.61 and a beta of 1.18. PulteGroup, Inc. has a 12-month low of $108.32 and a 12-month high of $144.49. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $123.07 and a 200-day moving average price of $125.07.

PulteGroup (NYSE:PHM) last posted 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 company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 earnings per share. Equities research analysts expect that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

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 $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 16th. PulteGroup’s payout ratio is 10.06%.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. The Goldman Sachs Group upped their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Bank of America lowered their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Truist Financial dropped their price objective on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Finally, Barclays boosted their target price on shares of PulteGroup from $112.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Ten research 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, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.21.

Insider Transactions at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of PulteGroup 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. The trade was a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 completion of the sale, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by corporate insiders.

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.