9,800 Shares in PulteGroup, Inc. $PHM Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the 1st quarter, HoldingsChannel reports. The fund purchased 9,800 shares of the construction company’s stock, valued at approximately $1,153,000.

A number of other large investors have also recently bought and sold shares of PHM. Rachor Investment Advisory Services LLC bought a new position in shares of PulteGroup during the fourth quarter valued at $31,000. HHM Wealth Advisors LLC grew its holdings in shares of PulteGroup by 158.5% in 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 last quarter. DV Equities LLC bought a new stake in shares of PulteGroup in the 4th quarter worth about $32,000. Lloyd Advisory Services LLC. acquired a new stake in shares of PulteGroup during the 4th quarter worth about $33,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of PulteGroup during the 4th quarter worth about $38,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $133.79 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $122.23 and a 200 day simple moving average of $124.62. PulteGroup, Inc. has a fifty-two week low of $107.07 and a fifty-two week high of $144.49. The firm has a market cap of $25.49 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.70 and a beta of 1.18.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data 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). The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 EPS. Sell-side analysts predict that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 16th. PulteGroup’s dividend payout ratio is 10.06%.

PulteGroup announced that its board has authorized a share buyback program on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PHM. Seaport Research Partners reiterated a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings lowered PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Citigroup increased their target price on PulteGroup from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Truist Financial lowered their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.71.

Insider Activity

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction dated 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 directly owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was 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 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.