34,229 Shares in PulteGroup, Inc. $PHM Purchased by Spartan Wealth Advisory Services LLC

Spartan Wealth Advisory Services LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 1st quarter, HoldingsChannel reports. The firm bought 34,229 shares of the construction company’s stock, valued at approximately $4,026,000.

Other institutional investors have also added to or reduced their stakes in the company. Kinsale Capital Group Inc. boosted its stake in shares of PulteGroup by 5.0% during the first quarter. Kinsale Capital Group Inc. now owns 72,686 shares of the construction company’s stock valued at $8,549,000 after purchasing an additional 3,450 shares in the last quarter. California Public Employees Retirement System increased its holdings in PulteGroup by 4.1% during the first quarter. California Public Employees Retirement System now owns 420,701 shares of the construction company’s stock valued at $49,479,000 after buying an additional 16,536 shares during the period. Gryphon Financial Partners LLC raised its stake in PulteGroup by 7.9% in the first quarter. Gryphon Financial Partners LLC now owns 5,850 shares of the construction company’s stock worth $688,000 after buying an additional 428 shares in the last quarter. Bessemer Group Inc. raised its stake in PulteGroup by 11.2% in the first quarter. Bessemer Group Inc. now owns 9,036 shares of the construction company’s stock worth $1,061,000 after buying an additional 910 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in PulteGroup by 6.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 473,295 shares of the construction company’s stock worth $55,446,000 after buying an additional 30,051 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. The trade was a 48.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is owned by company insiders.

PulteGroup Trading Down 2.4%

NYSE:PHM opened at $125.92 on Friday. The stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.61 and a beta of 1.18. PulteGroup, Inc. has a 52 week low of $107.91 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 $122.92 and a 200 day moving average of $124.99.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the firm posted $2.57 earnings per share. PulteGroup’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup declared that its board has initiated a stock buyback plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is presently 10.06%.

Analysts Set New Price Targets

Several analysts have issued reports on PHM shares. Evercore increased their target price on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Citigroup boosted their price target on PulteGroup from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Seaport Research Partners restated a “sell” rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Barclays raised their price objective on PulteGroup from $112.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Bank of America cut their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.21.

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.