Beacon Investment Advisory Services Inc. Takes $257,000 Position in PulteGroup, Inc. (NYSE:PHM)

Posted by Defense World Staff on Mar 24th, 2023

Beacon Investment Advisory Services Inc. bought a new position in PulteGroup, Inc. (NYSE:PHM – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,641 shares of the construction company’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in PulteGroup by 1.0% in the first quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock worth $1,162,667,000 after purchasing an additional 261,934 shares during the last quarter. Putnam Investments LLC raised its stake in shares of PulteGroup by 0.7% during the third quarter. Putnam Investments LLC now owns 9,181,836 shares of the construction company’s stock valued at $344,319,000 after acquiring an additional 60,882 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PulteGroup by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 6,666,621 shares of the construction company’s stock valued at $250,024,000 after acquiring an additional 72,490 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of PulteGroup by 8.2% during the third quarter. Alliancebernstein L.P. now owns 5,711,291 shares of the construction company’s stock valued at $214,173,000 after acquiring an additional 433,627 shares during the last quarter. Finally, Greenhaven Associates Inc. raised its stake in shares of PulteGroup by 6.0% during the fourth quarter. Greenhaven Associates Inc. now owns 5,623,990 shares of the construction company’s stock valued at $256,060,000 after acquiring an additional 318,680 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

PHM stock opened at $56.39 on Friday. PulteGroup, Inc. has a 12 month low of $35.03 and a 12 month high of $60.89. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $54.48 and a 200 day moving average price of $46.47. The stock has a market cap of $12.72 billion, a PE ratio of 5.08, a P/E/G ratio of 0.48 and a beta of 1.31.

PulteGroup (NYSE:PHM – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The construction company reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.75. PulteGroup had a net margin of 16.13% and a return on equity of 31.85%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same period in the previous year, the company earned $2.51 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts anticipate that PulteGroup, Inc. will post 7.34 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Monday, March 20th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 17th. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. PulteGroup’s payout ratio is 5.77%.

Analyst Ratings Changes

Several brokerages have recently commented on PHM. Wedbush upped their price objective on shares of PulteGroup from $47.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, February 1st. The Goldman Sachs Group increased their price target on shares of PulteGroup from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 12th. KeyCorp upped their price objective on shares of PulteGroup from $51.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Wolfe Research upgraded shares of PulteGroup from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 4,924 shares of PulteGroup stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total transaction of $295,440.00. Following the completion of the sale, the vice president now owns 17,308 shares in the company, valued at approximately $1,038,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Brien P. O’meara sold 4,924 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total value of $295,440.00. Following the completion of the sale, the vice president now owns 17,308 shares in the company, valued at approximately $1,038,480. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John J. Chadwick sold 29,817 shares of the business’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $56.63, for a total transaction of $1,688,536.71. Following the completion of the sale, the vice president now owns 87,428 shares of the company’s stock, valued at approximately $4,951,047.64. The disclosure for this sale can be found here. Insiders sold 50,739 shares of company stock worth $2,845,149 in the last 90 days. 0.71% of the stock is owned by corporate insiders.

PulteGroup Company Profile

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PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.