Talon Private Wealth LLC Invests $606,000 in PulteGroup, Inc. $PHM

Talon Private Wealth LLC bought a new position in PulteGroup, Inc. (NYSE:PHM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,156 shares of the construction company’s stock, valued at approximately $606,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its stake in 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 acquiring an additional 198 shares during the last quarter. NFSG Corp acquired a new position in shares of PulteGroup in the 1st quarter valued at about $29,000. Rachor Investment Advisory Services LLC acquired a new position in shares of PulteGroup in the 4th quarter valued at about $31,000. DV Equities LLC purchased a new stake in shares of PulteGroup during the 4th quarter worth about $32,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In related news, Director Lila Snyder sold 3,339 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by insiders.

PulteGroup Trading Down 1.8%

NYSE PHM opened at $132.30 on Thursday. The stock has a market cap of $24.80 billion, a P/E ratio of 13.51, a PEG ratio of 1.67 and a beta of 1.18. The company’s fifty day simple moving average is $125.29 and its 200-day simple moving average is $125.54. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52 week low of $108.49 and a 52 week high of $144.49.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the firm posted $3.03 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts predict that PulteGroup, Inc. will post 10.08 EPS for the current fiscal 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 repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PHM. Bank of America cut their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Weiss Ratings upgraded shares of PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Evercore reissued an “outperform” rating and issued a $162.00 price objective on shares of PulteGroup in a research report on Thursday, July 23rd. Barclays raised their target price on shares of PulteGroup from $123.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Ten research 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 stock has a consensus rating of “Moderate Buy” and an average target price of $143.14.

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.