California Public Employees Retirement System Purchases 16,536 Shares of PulteGroup, Inc. $PHM

California Public Employees Retirement System boosted its position in PulteGroup, Inc. (NYSE:PHM) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 420,701 shares of the construction company’s stock after purchasing an additional 16,536 shares during the period. California Public Employees Retirement System owned about 0.22% of PulteGroup worth $49,479,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PHM. Focus Partners Wealth increased its position in shares of PulteGroup by 20.5% during the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after purchasing an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of PulteGroup by 197.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after buying an additional 804 shares during the last quarter. Guggenheim Capital LLC grew its position in PulteGroup by 12.9% during the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after buying an additional 975 shares during the period. Baird Financial Group Inc. grew its position in PulteGroup by 8.0% during the second quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after buying an additional 2,164 shares during the period. Finally, Cerity Partners LLC grew its position in PulteGroup by 17.6% during the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after buying an additional 6,240 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Down 2.2%

Shares of PulteGroup stock opened at $123.27 on Tuesday. PulteGroup, Inc. has a fifty-two week low of $108.32 and a fifty-two week high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $23.48 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.61 and a beta of 1.18. The company has a fifty day moving average of $123.07 and a 200 day moving average of $125.07.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the business earned $2.57 earnings per share. PulteGroup’s revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is 10.06%.

PulteGroup declared that its board has authorized a stock buyback plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on PHM. Weiss Ratings downgraded shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Truist Financial reduced their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Citigroup raised their target price on PulteGroup from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.21.

Insider Activity at PulteGroup

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director directly owned 3,540 shares of the company’s stock, valued at $414,817.20. This trade represents a 48.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by company insiders.

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.