Westerkirk Capital Inc. Buys 9,100 Shares of PulteGroup, Inc. $PHM

Westerkirk Capital Inc. grew its stake in PulteGroup, Inc. (NYSE:PHM) by 59.5% in the fourth quarter, HoldingsChannel reports. The fund owned 24,400 shares of the construction company’s stock after acquiring an additional 9,100 shares during the period. Westerkirk Capital Inc.’s holdings in PulteGroup were worth $2,861,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rachor Investment Advisory Services LLC bought a new position in shares of PulteGroup in the fourth quarter worth about $31,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup in the fourth quarter worth about $33,000. High Point Wealth Management LLC bought a new position in shares of PulteGroup in the fourth quarter worth about $38,000. Beacon Financial Strategies CORP bought a new position in shares of PulteGroup in the fourth quarter worth about $40,000. Finally, Elyxium Wealth LLC bought a new position in shares of PulteGroup in the fourth quarter worth about $41,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 0.5%

PulteGroup stock opened at $117.76 on Tuesday. The stock has a market capitalization of $22.43 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. PulteGroup, Inc. has a twelve month low of $98.27 and a twelve month high of $144.49. 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 company has a 50 day moving average of $119.09 and a 200-day moving average of $124.06.

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

PulteGroup Dividend Announcement

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

PulteGroup announced that its Board of Directors has approved 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 reacquire up to 6.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of research analyst reports. Bank of America dropped their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Seaport Research Partners reiterated a “sell” rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. UBS Group lifted their price target on shares of PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $140.71.

Insider Activity at PulteGroup

In other news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by corporate insiders.

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.