Truist Financial Corp Has $19.74 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Truist Financial Corp increased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 248.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,219 shares of the construction company’s stock after acquiring an additional 136,370 shares during the period. Truist Financial Corp owned about 0.09% of PulteGroup worth $19,738,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Arlington Trust Co LLC bought a new position in PulteGroup during the 3rd quarter worth about $33,000. Baystate Wealth Management LLC raised its position in PulteGroup by 186.5% in 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 during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in PulteGroup in the 3rd quarter valued at approximately $36,000. Rakuten Securities Inc. acquired a new position in PulteGroup during the 4th quarter worth approximately $37,000. Finally, Lindbrook Capital LLC grew its stake in shares of PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after acquiring an additional 292 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Raymond James reissued an “outperform” rating and issued a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. Royal Bank of Canada increased their price objective on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Citigroup lifted their target price on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Jefferies Financial Group increased their price target on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.73.

PulteGroup Price Performance

NYSE:PHM opened at $114.57 on Tuesday. The company 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 price is $111.54 and its two-hundred day moving average price is $100.06. PulteGroup, Inc. has a one year low of $64.70 and a one year high of $121.07. 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 (NYSE:PHM) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.07. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.63 EPS. Equities analysts expect that PulteGroup, Inc. will post 12.66 earnings per share for the current year.

PulteGroup announced that its board has authorized a stock buyback program on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Thursday, March 14th. PulteGroup’s dividend payout ratio is currently 6.41%.

Insiders Place Their Bets

In other news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.75% of the company’s stock.

PulteGroup Company 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.