Royal Bank of Canada Raises Stake in PulteGroup, Inc. $PHM

Royal Bank of Canada lifted its position in PulteGroup, Inc. (NYSE:PHM) by 23.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 496,098 shares of the construction company’s stock after buying an additional 94,150 shares during the quarter. Royal Bank of Canada’s holdings in PulteGroup were worth $58,347,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC grew its holdings in shares of PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. NFSG Corp purchased a new position in PulteGroup in the 1st quarter worth $29,000. Rachor Investment Advisory Services LLC purchased a new position in shares of PulteGroup in the fourth quarter worth about $31,000. DV Equities LLC purchased a new position in PulteGroup in the 4th quarter worth approximately $32,000. Finally, HHM Wealth Advisors LLC raised its holdings in PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after buying an additional 168 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on PHM. Evercore reaffirmed an “outperform” rating and set a $162.00 price target on shares of PulteGroup in a research report on Thursday, July 23rd. Citigroup dropped their price objective on shares of PulteGroup from $138.00 to $134.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Weiss Ratings raised PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and set a $166.00 price target on shares of PulteGroup in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada lifted their price objective on PulteGroup from $115.00 to $116.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.14.

PulteGroup Trading Down 1.6%

Shares of PHM stock opened at $126.71 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a fifty day moving average price of $125.75 and a 200-day moving average price of $125.52. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.57 and a beta of 1.18. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the company earned $3.03 earnings per share. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, equities analysts predict that PulteGroup, Inc. will post 10.08 earnings per share for the current year.

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

PulteGroup Company 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.