Three Seasons Wealth LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Three Seasons Wealth LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,804 shares of the construction company’s stock, valued at approximately $415,000.

A number of other hedge funds also recently modified their holdings of PHM. Logan Capital Management Inc. grew its position in shares of PulteGroup by 67.7% during the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after purchasing an additional 5,976 shares in the last quarter. Nilsine Partners LLC increased its position in PulteGroup by 929.2% during the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after purchasing an additional 18,575 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in PulteGroup by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock valued at $496,000 after buying an additional 143 shares in the last quarter. Argyle Capital Management LLC lifted its stake in shares of PulteGroup by 1.5% in the 4th quarter. Argyle Capital Management LLC now owns 42,241 shares of the construction company’s stock valued at $4,600,000 after acquiring an additional 641 shares during the last quarter. Finally, Eastern Bank boosted its holdings in shares of PulteGroup by 4.6% during the 4th quarter. Eastern Bank now owns 142,740 shares of the construction company’s stock valued at $15,544,000 after acquiring an additional 6,243 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Barclays dropped their target price on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday. Oppenheimer cut their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, Evercore ISI lifted their price objective on PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.69.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of PulteGroup 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 of the company’s stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated 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 directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is owned by company insiders.

PulteGroup Stock Performance

NYSE PHM opened at $102.88 on Friday. The company has a fifty day moving average price of $101.44 and a 200-day moving average price of $115.25. The firm has a market cap of $20.83 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 0.29 and a beta of 1.44. 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 1 year low of $88.07 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.10. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same period in the prior year, the company posted $3.10 earnings per share. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is currently 6.21%.

PulteGroup announced that its board has initiated a stock repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.