PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. increased its position in PulteGroup, Inc. (NYSE:PHM) by 43.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,424 shares of the construction company’s stock after acquiring an additional 1,939 shares during the period. Atria Wealth Solutions Inc.’s holdings in PulteGroup were worth $663,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PHM. Raymond James & Associates raised its position in shares of PulteGroup by 17.0% during the third quarter. Raymond James & Associates now owns 288,294 shares of the construction company’s stock worth $21,348,000 after purchasing an additional 41,868 shares during the period. Bank of New York Mellon Corp raised its position in shares of PulteGroup by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 1,995,056 shares of the construction company’s stock worth $147,734,000 after purchasing an additional 32,817 shares during the period. Forsta AP Fonden raised its position in shares of PulteGroup by 4.7% during the third quarter. Forsta AP Fonden now owns 42,300 shares of the construction company’s stock worth $3,132,000 after purchasing an additional 1,900 shares during the period. Concord Wealth Partners raised its position in shares of PulteGroup by 43.9% during the third quarter. Concord Wealth Partners now owns 8,806 shares of the construction company’s stock worth $652,000 after purchasing an additional 2,688 shares during the period. Finally, Everhart Financial Group Inc. raised its position in shares of PulteGroup by 12.3% during the third quarter. Everhart Financial Group Inc. now owns 3,098 shares of the construction company’s stock worth $229,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays boosted their target price on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Citigroup upped their price target on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Wedbush reissued a “neutral” rating and set a $85.00 price target on shares of PulteGroup in a research report on Wednesday, January 31st. The Goldman Sachs Group upped their price target on PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Finally, StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $111.73.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM stock opened at $116.64 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. PulteGroup, Inc. has a fifty-two week low of $65.16 and a fifty-two week high of $121.07. The stock’s 50-day moving average is $112.28 and its two-hundred day moving average is $101.00. The firm has a market cap of $24.53 billion, a P/E ratio of 9.34, a PEG ratio of 0.52 and a beta of 1.56.

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

About PulteGroup

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.