Truist Financial Corp Has $12.59 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Truist Financial Corp grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 26.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,573 shares of the construction company’s stock after acquiring an additional 23,863 shares during the period. Truist Financial Corp owned 0.06% of PulteGroup worth $12,586,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC raised its position in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup in the third quarter valued at approximately $29,000. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $39,000. Finally, JNBA Financial Advisors acquired a new stake in shares of PulteGroup in the third quarter valued at approximately $43,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PHM. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group lowered their price objective 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. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Barclays lowered their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Oppenheimer lowered their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Stock Performance

NYSE PHM opened at $105.80 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $101.13 and a fifty-two week high of $149.47. The stock has a market cap of $21.42 billion, a PE ratio of 7.19, a PEG ratio of 0.29 and a beta of 1.68. The firm’s fifty day moving average price is $111.47 and its two-hundred day moving average price is $125.63.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, equities analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its Board of Directors has authorized a stock repurchase plan 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 plans are usually a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.83%. PulteGroup’s payout ratio is 5.98%.

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.