62,474 Shares in PulteGroup, Inc. $PHM Purchased by Foster & Motley Inc.

Foster & Motley Inc. bought a new position in PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 62,474 shares of the construction company’s stock, valued at approximately $8,572,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Norges Bank bought a new position in shares of PulteGroup in the fourth quarter worth approximately $466,653,000. Price T Rowe Associates Inc. MD lifted its position in PulteGroup by 126.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after purchasing an additional 2,392,580 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in PulteGroup in the 2nd quarter worth approximately $189,931,000. Public Sector Pension Investment Board grew its stake in PulteGroup by 5,485.0% in the 4th quarter. Public Sector Pension Investment Board now owns 930,622 shares of the construction company’s stock worth $109,125,000 after buying an additional 913,959 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of PulteGroup by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after buying an additional 655,033 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

PHM opened at $126.17 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49. The stock’s 50 day simple moving average is $128.62 and its 200 day simple moving average is $125.64. The firm has a market cap of $23.65 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.61 and a beta of 1.19.

PulteGroup (NYSE:PHM) last issued its 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 analysts’ expectations of $3.94 billion. During the same quarter last year, the business earned $3.03 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. As a group, analysts predict that PulteGroup, Inc. will post 10.12 earnings per share for the current year.

PulteGroup announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, 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 completion of the transaction, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PHM shares. The Goldman Sachs Group lifted their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. UBS Group restated a “buy” rating and set a $166.00 price target on shares of PulteGroup in a research report on Thursday, July 23rd. Evercore reaffirmed an “outperform” rating and set a $162.00 price target on shares of PulteGroup in a research note on Thursday, July 23rd. Wells Fargo & Company increased their price objective on PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Weiss Ratings raised PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.14.

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.