Truist Financial Corp Acquires 136,370 Shares of PulteGroup, Inc. (NYSE:PHM)

Truist Financial Corp boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 248.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 191,219 shares of the construction company’s stock after acquiring an additional 136,370 shares during the quarter. Truist Financial Corp’s holdings in PulteGroup were worth $19,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PHM. Arlington Trust Co LLC purchased a new position in shares of PulteGroup in the third quarter valued at $33,000. Baystate Wealth Management LLC grew its holdings in PulteGroup by 186.5% during the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after buying an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in PulteGroup during the 3rd quarter valued at about $36,000. Rakuten Securities Inc. bought a new stake in shares of PulteGroup during the fourth quarter valued at about $37,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after buying an additional 292 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $114.57 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $24.10 billion, a P/E ratio of 9.17, a P/E/G ratio of 0.51 and a beta of 1.56. The firm’s fifty day moving average is $111.54 and its 200 day moving average is $100.06. PulteGroup, Inc. has a 52 week low of $64.70 and a 52 week high of $121.07.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period last year, the firm earned $3.63 earnings per share. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. Research analysts predict that PulteGroup, Inc. will post 12.66 earnings per share for the current year.

PulteGroup announced that its board has authorized a stock repurchase program on Tuesday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.70%. PulteGroup’s payout ratio is 6.41%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PHM shares. Citigroup boosted their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Barclays upped their price target on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $93.00 to $120.00 in a research note on Thursday, January 4th. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer lifted their price target on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $111.73.

PulteGroup 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.