Econ Financial Services Corp Makes New Investment in PulteGroup, Inc. $PHM

Econ Financial Services Corp bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,341 shares of the construction company’s stock, valued at approximately $626,000.

Several other large investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in PulteGroup during the second quarter valued at $32,000. Rexford Capital Inc. purchased a new position in PulteGroup in the second quarter valued at $35,000. Private Wealth Management Group LLC raised its position in shares of PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Beacon Financial Strategies CORP acquired a new position in shares of PulteGroup in the fourth quarter worth about $40,000. Finally, True Wealth Design LLC boosted its stake in shares of PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after acquiring an additional 248 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 3.4%

Shares of NYSE PHM opened at $117.58 on Wednesday. The firm has a market cap of $22.53 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.32 and a beta of 1.32. The company’s 50-day simple moving average is $128.66 and its 200-day simple moving average is $125.91. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $144.49.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s payout ratio is presently 9.35%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Truist Financial assumed coverage on PulteGroup in a research report on Wednesday, March 4th. They set a “buy” rating and a $170.00 price target on the stock. The Goldman Sachs Group raised their price objective on PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. UBS Group restated a “buy” rating on shares of PulteGroup in a research report on Thursday, March 12th. Finally, Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.71.

Insider Activity at PulteGroup

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the sale, the executive vice president directly owned 14,673 shares in the company, valued at approximately $2,069,333.19. The trade was a 26.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.79, for a total value of $2,078,809.11. Following the transaction, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at $5,759,940.22. The trade was a 26.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 149,952 shares of company stock worth $20,162,165 in the last quarter. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.