Sequoia Financial Advisors LLC Grows Stock Holdings in PulteGroup, Inc. $PHM

Sequoia Financial Advisors LLC lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 71.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,465 shares of the construction company’s stock after purchasing an additional 6,026 shares during the period. Sequoia Financial Advisors LLC’s holdings in PulteGroup were worth $1,696,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Focus Partners Wealth boosted its stake in PulteGroup by 20.5% in the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after purchasing an additional 2,128 shares during the period. EverSource Wealth Advisors LLC boosted its stake in PulteGroup by 197.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after purchasing an additional 804 shares during the period. Guggenheim Capital LLC boosted its stake in PulteGroup by 12.9% in the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after purchasing an additional 975 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after purchasing an additional 6,240 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Down 1.8%

Shares of NYSE:PHM opened at $115.44 on Tuesday. The company has a market cap of $21.99 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.49 and a beta of 1.23. The company has a 50-day moving average price of $122.11 and a 200 day moving average price of $124.49. PulteGroup, Inc. has a 12 month low of $95.20 and a 12 month high of $144.49. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its quarterly 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). The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $2.57 earnings per share. As a group, equities research analysts predict that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup Announces Dividend

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

PulteGroup announced that its Board of Directors has initiated a stock buyback program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on PHM. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company increased their target price on PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Barclays lowered their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Oppenheimer reiterated an “outperform” rating and set a $149.00 target price (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Finally, Seaport Research Partners reiterated a “sell” rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

Insiders Place Their Bets

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the firm’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. 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.