Thrivent Financial for Lutherans Has $2.12 Million Position in PulteGroup, Inc. $PHM

Thrivent Financial for Lutherans raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 51.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,044 shares of the construction company’s stock after purchasing an additional 6,149 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PulteGroup were worth $2,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PHM. Rachor Investment Advisory Services LLC acquired a new stake in PulteGroup during the 4th quarter valued at approximately $31,000. High Point Wealth Management LLC acquired a new stake in PulteGroup during the 4th quarter valued at approximately $38,000. Beacon Financial Strategies CORP acquired a new stake in PulteGroup during the 4th quarter valued at approximately $40,000. Fulcrum Asset Management LLP acquired a new stake in PulteGroup during the 3rd quarter valued at approximately $47,000. Finally, MUFG Securities EMEA plc acquired a new stake in PulteGroup during the 2nd quarter valued at approximately $63,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity

In related news, Director Lila Snyder sold 3,339 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. This trade represents a 48.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Stock Performance

Shares of PHM stock opened at $117.86 on Wednesday. The company has a market cap of $22.45 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. PulteGroup, Inc. has a 52 week low of $95.20 and a 52 week high of $144.49. 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 firm has a 50 day moving average of $119.14 and a 200-day moving average of $124.07.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the business earned $2.57 earnings per share. PulteGroup’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup declared that its Board of Directors has initiated a share repurchase program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PHM shares. 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 report on Monday, April 20th. Wells Fargo & Company increased their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Weiss Ratings downgraded shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Seaport Research Partners reaffirmed a “sell” rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Finally, Evercore raised their price objective on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.71.

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.