Marble Wealth LLC Takes Position in PulteGroup, Inc. $PHM

Marble Wealth LLC purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,703 shares of the construction company’s stock, valued at approximately $786,000.

Other large investors have also recently modified their holdings of the company. Rachor Investment Advisory Services LLC bought a new stake in shares of PulteGroup during the 4th quarter valued at about $31,000. Lloyd Advisory Services LLC. bought a new stake in PulteGroup in the 4th quarter worth approximately $33,000. High Point Wealth Management LLC bought a new stake in PulteGroup in the 4th quarter worth approximately $38,000. Beacon Financial Strategies CORP bought a new stake in PulteGroup in the 4th quarter worth approximately $40,000. Finally, Elyxium Wealth LLC bought a new stake in PulteGroup in the 4th quarter worth approximately $41,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $117.19 on Thursday. 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 business’s 50 day simple moving average is $119.07 and its two-hundred day simple moving average is $124.00. The stock has a market capitalization of $22.32 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20. PulteGroup, Inc. has a one year low of $98.27 and a one year high of $144.49.

PulteGroup (NYSE:PHM) last posted its earnings results 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). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the firm posted $2.57 earnings per share. PulteGroup’s quarterly revenue was down 12.4% on a year-over-year basis. Analysts forecast that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup announced that its board has authorized a stock buyback plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The company 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 dividend of $0.26 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s payout ratio is currently 10.06%.

Insider Activity at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the sale, the director owned 3,540 shares in the company, valued at $414,817.20. This represents a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. UBS Group boosted their target price on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Barclays dropped 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. Citigroup boosted their target price on PulteGroup from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Seaport Research Partners restated a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.

About PulteGroup

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.