PulteGroup, Inc. (NYSE:PHM) Shares Sold by Raymond James Financial Services Advisors Inc.

Posted by MarketBeat News on May 21st, 2023

Raymond James Financial Services Advisors Inc. trimmed its position in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 60.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 79,197 shares of the construction company’s stock after selling 122,009 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in PulteGroup were worth $3,606,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of PulteGroup by 1.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,982 shares of the construction company’s stock valued at $728,000 after acquiring an additional 216 shares during the last quarter. Veriti Management LLC lifted its position in shares of PulteGroup by 4.0% during the 4th quarter. Veriti Management LLC now owns 6,419 shares of the construction company’s stock valued at $292,000 after acquiring an additional 249 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of PulteGroup by 17.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,749 shares of the construction company’s stock valued at $73,000 after acquiring an additional 262 shares during the last quarter. CWM LLC lifted its position in shares of PulteGroup by 12.4% during the 4th quarter. CWM LLC now owns 2,433 shares of the construction company’s stock valued at $111,000 after acquiring an additional 268 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of PulteGroup by 1.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 15,778 shares of the construction company’s stock valued at $592,000 after acquiring an additional 271 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Brian P. Anderson sold 15,000 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $66.95, for a total value of $1,004,250.00. Following the sale, the director now directly owns 55,886 shares of the company’s stock, valued at $3,741,567.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Brian P. Anderson sold 15,000 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $66.95, for a total value of $1,004,250.00. Following the sale, the director now directly owns 55,886 shares of the company’s stock, valued at $3,741,567.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Oshaughnessy sold 115,102 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $66.90, for a total value of $7,700,323.80. Following the completion of the sale, the chief financial officer now directly owns 177,564 shares in the company, valued at $11,879,031.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 244,100 shares of company stock valued at $15,962,206. 0.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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A number of brokerages have recently commented on PHM. Wolfe Research upgraded PulteGroup from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research report on Wednesday, March 22nd. BTIG Research boosted their target price on shares of PulteGroup from $68.00 to $83.00 in a research note on Wednesday, April 26th. Barclays boosted their target price on shares of PulteGroup from $75.00 to $86.00 in a research note on Wednesday, April 26th. Citigroup boosted their target price on shares of PulteGroup from $68.00 to $75.00 in a research note on Thursday, April 27th. Finally, Royal Bank of Canada boosted their target price on shares of PulteGroup from $54.00 to $68.00 in a research note on Wednesday, April 26th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $66.86.

PulteGroup Trading Down 1.4 %

NYSE PHM opened at $69.18 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $15.44 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.48 and a beta of 1.33. PulteGroup, Inc. has a 1-year low of $35.03 and a 1-year high of $70.54. The firm’s fifty day simple moving average is $61.73 and its 200-day simple moving average is $53.33.

PulteGroup (NYSE:PHM – Get Rating) last posted its earnings results on Tuesday, April 25th. The construction company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.57. PulteGroup had a return on equity of 31.03% and a net margin of 16.22%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the company earned $1.83 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 9.05 earnings per share for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase program on Tuesday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Tuesday, June 20th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, June 16th. This represents a $0.64 annualized dividend and a yield of 0.93%. PulteGroup’s dividend payout ratio (DPR) is currently 5.51%.

PulteGroup Profile

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PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.