PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,277 shares of the construction company’s stock after purchasing an additional 123 shares during the quarter. Belpointe Asset Management LLC’s holdings in PulteGroup were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Richardson Financial Services Inc. boosted its holdings in shares of PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock worth $68,000 after buying an additional 89 shares during the period. Premier Path Wealth Partners LLC lifted its position in shares of PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after acquiring an additional 95 shares in the last quarter. Meridian Wealth Management LLC lifted its position in shares of PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock valued at $1,440,000 after acquiring an additional 95 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock worth $479,000 after purchasing an additional 103 shares during the period. Finally, Wedmont Private Capital grew its position in PulteGroup by 3.7% during the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock worth $328,000 after purchasing an additional 110 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Down 2.0 %

PulteGroup stock opened at $92.94 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a fifty day moving average price of $102.51 and a two-hundred day moving average price of $117.08. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 6.32, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.95%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup declared that its Board of Directors has approved a share repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PHM. Citigroup reduced their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group reduced their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Wedbush reaffirmed an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. UBS Group upped their target price on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Bank of America decreased their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.21.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Company insiders own 0.76% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.