Myriad Asset Management Advisors LLC Invests $1.78 Million in PulteGroup, Inc. $PHM

Myriad Asset Management Advisors LLC acquired a new position in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 15,163 shares of the construction company’s stock, valued at approximately $1,778,000.

Several other large investors also recently modified their holdings of PHM. Focus Partners Wealth grew its stake in shares of PulteGroup by 20.5% in the first 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 last quarter. EverSource Wealth Advisors LLC grew its stake in shares of PulteGroup by 197.1% in the second 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 last quarter. Guggenheim Capital LLC grew its stake in shares of PulteGroup by 12.9% in the second 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 last quarter. Baird Financial Group Inc. grew its stake in shares of PulteGroup by 8.0% in the second quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of PulteGroup by 17.6% in the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 6,240 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PHM shares. Barclays cut their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Evercore upped their target price on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. UBS Group upped their target price on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Citigroup upped 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 reduced their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.71.

Insider Activity at PulteGroup

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

PulteGroup Stock Performance

Shares of PHM opened at $118.74 on Thursday. 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 business’s 50 day moving average price is $119.36 and its 200-day moving average price is $124.16. PulteGroup, Inc. has a 52 week low of $98.27 and a 52 week high of $144.49. The stock has a market cap of $22.62 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.56 and a beta of 1.20.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.PulteGroup’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 earnings per share. Equities research analysts anticipate that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup’s dividend payout ratio is 10.06%.

PulteGroup declared that its board has initiated a stock repurchase plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.