Brian P. Anderson Sells 15,000 Shares of PulteGroup, Inc. (NYSE:PHM) Stock

Posted by Defense World Staff on Apr 30th, 2023

PulteGroup, Inc. (NYSE:PHM – Get Rating) Director Brian P. Anderson sold 15,000 shares of PulteGroup stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $66.95, for a total value of $1,004,250.00. Following the transaction, the director now owns 55,886 shares of the company’s stock, valued at $3,741,567.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PulteGroup Stock Up 1.3 %

Shares of PHM opened at $67.15 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.62 and a current ratio of 0.70. PulteGroup, Inc. has a one year low of $35.03 and a one year high of $67.20. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 0.51 and a beta of 1.33. The stock has a 50 day moving average price of $57.60 and a 200 day moving average price of $50.19.

PulteGroup (NYSE:PHM – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The construction company reported $2.35 EPS for the quarter, topping the consensus estimate of $1.78 by $0.57. PulteGroup had a return on equity of 31.03% and a net margin of 16.22%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts forecast that PulteGroup, Inc. will post 8.06 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 4th. Shareholders of record on Monday, March 20th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, March 17th. PulteGroup’s payout ratio is currently 5.51%.

PulteGroup announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PHM has been the subject of several recent research reports. Credit Suisse Group lifted their price target on PulteGroup from $52.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. KeyCorp lifted their price target on PulteGroup from $51.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Barclays lifted their price target on PulteGroup from $75.00 to $86.00 in a research report on Wednesday. Bank of America lifted their price target on PulteGroup from $65.00 to $71.00 in a research report on Wednesday. Finally, Wedbush raised their price objective on PulteGroup from $47.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, February 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.86.

Institutional Trading of PulteGroup

Several large investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co grew its holdings in PulteGroup by 4.5% in the 1st quarter. CENTRAL TRUST Co now owns 4,293 shares of the construction company’s stock valued at $250,000 after buying an additional 183 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in PulteGroup by 8.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,523 shares of the construction company’s stock valued at $115,000 after buying an additional 190 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in PulteGroup by 20.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,172 shares of the construction company’s stock valued at $68,000 after buying an additional 203 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in PulteGroup by 1.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,982 shares of the construction company’s stock valued at $728,000 after buying an additional 216 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in PulteGroup by 5.1% in the 4th quarter. Assetmark Inc. now owns 4,483 shares of the construction company’s stock valued at $204,000 after buying an additional 217 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.

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