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

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 56.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,072 shares of the construction company’s stock after acquiring an additional 4,367 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PulteGroup were worth $1,420,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC lifted its position in shares of PulteGroup by 1,650.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. NFSG Corp purchased a new position in PulteGroup in the first quarter valued at $29,000. Rachor Investment Advisory Services LLC acquired a new stake in PulteGroup in the fourth quarter valued at $31,000. DV Equities LLC acquired a new stake in PulteGroup in the fourth quarter valued at $32,000. Finally, HHM Wealth Advisors LLC lifted its holdings in PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after buying an additional 168 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PHM has been the topic of several research analyst reports. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Barclays boosted their price objective on shares of PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and set a $166.00 price target on shares of PulteGroup in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada raised their price objective on PulteGroup from $115.00 to $116.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average target price of $143.14.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $126.71 on Friday. The firm’s fifty day simple moving average is $125.75 and its 200-day simple moving average is $125.52. The stock has a market capitalization of $23.75 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.57 and a beta of 1.18. PulteGroup, Inc. has a 12 month low of $108.49 and a 12 month high of $144.49. 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 (NYSE:PHM) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.36 by $0.12. The firm 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%. PulteGroup’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.03 EPS. As a group, equities analysts forecast that PulteGroup, Inc. will post 10.08 earnings per share for the current year.

PulteGroup declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at PulteGroup

In related news, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction dated 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 owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently 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.