PulteGroup, Inc. $PHM Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 56.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,072 shares of the construction company’s stock after buying an additional 4,367 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PulteGroup were worth $1,420,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PHM. Golden State Wealth Management LLC boosted its holdings in shares of PulteGroup by 18.3% in the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after acquiring an additional 75 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after purchasing an additional 78 shares in the last quarter. Stephens Inc. AR lifted its position in PulteGroup by 3.5% in the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after purchasing an additional 80 shares during the period. Perigon Wealth Management LLC lifted its position in PulteGroup by 3.6% in the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock valued at $313,000 after purchasing an additional 92 shares during the period. Finally, Opal Wealth Advisors LLC boosted its holdings in PulteGroup by 4.8% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock valued at $254,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Down 1.6%

Shares of PHM opened at $126.71 on Friday. PulteGroup, Inc. has a twelve month low of $108.49 and a twelve month high of $144.49. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $23.75 billion, a P/E ratio of 12.94, a PEG ratio of 1.57 and a beta of 1.18. The firm’s 50-day moving average is $125.75 and its two-hundred day moving average is $125.52.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $3.03 EPS. On average, research analysts predict that PulteGroup, Inc. will post 10.08 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors 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 often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at PulteGroup

In other PulteGroup news, 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 sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew William Koart sold 7,457 shares of the company’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 completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings raised PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. UBS Group restated a “buy” rating and issued a $166.00 price target on shares of PulteGroup in a research note on Thursday, July 23rd. The Goldman Sachs Group upped their price objective on PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Truist Financial cut their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Finally, Wells Fargo & Company raised their target price on PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $143.14.

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.