Pacer Advisors Inc. Grows Stock Holdings in PulteGroup, Inc. $PHM

Pacer Advisors Inc. increased its stake in PulteGroup, Inc. (NYSE:PHM) by 18.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 875,147 shares of the construction company’s stock after buying an additional 139,226 shares during the period. Pacer Advisors Inc.’s holdings in PulteGroup were worth $102,926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Lombard Odier Asset Management Europe Ltd purchased a new stake in PulteGroup during the 1st quarter valued at about $2,599,000. Parallel Advisors LLC increased its holdings in shares of PulteGroup by 20.7% in the 1st quarter. Parallel Advisors LLC now owns 3,985 shares of the construction company’s stock worth $469,000 after purchasing an additional 684 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of PulteGroup by 39.2% in the first quarter. NewEdge Advisors LLC now owns 9,710 shares of the construction company’s stock worth $1,142,000 after purchasing an additional 2,732 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of PulteGroup by 0.7% during the first quarter. Glenmede Trust Co. NA now owns 40,365 shares of the construction company’s stock valued at $4,747,000 after purchasing an additional 275 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of PulteGroup during the first quarter valued at $130,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

NYSE PHM opened at $126.71 on Monday. PulteGroup, Inc. has a 52 week low of $108.49 and a 52 week high of $144.49. 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 company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $125.75 and a 200-day moving average price of $125.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion for 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 firm’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.03 earnings per share. Equities research analysts anticipate that PulteGroup, Inc. will post 10.08 earnings per share for the current year.

PulteGroup declared that its board has authorized a stock buyback program on Thursday, April 23rd that allows the company to repurchase $1.50 billion in 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 often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the business’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 completion of the sale, the director owned 3,540 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was 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 directly 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 insiders.

Analyst Ratings Changes

Several research firms have issued reports on PHM. Bank of America lowered their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Seaport Research Partners reissued a “sell” rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Citigroup lowered their price objective on shares of PulteGroup from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Wells Fargo & Company raised their target price on shares of PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada lifted their target price on shares of PulteGroup from $115.00 to $116.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. Ten 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.