PulteGroup, Inc. (NYSE:PHM) Shares Bought by Truist Financial Corp

Truist Financial Corp boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other large investors also recently bought and sold shares of PHM. Logan Capital Management Inc. increased its stake in PulteGroup by 67.7% during the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company's stock worth $2,124,000 after acquiring an additional 5,976 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of PulteGroup by 38.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company's stock worth $17,410,000 after purchasing an additional 33,472 shares during the last quarter. Trustmark National Bank Trust Department raised its holdings in PulteGroup by 39.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company's stock valued at $5,682,000 after buying an additional 11,269 shares during the period. Systematic Financial Management LP lifted its position in PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company's stock valued at $18,696,000 after buying an additional 4,840 shares during the last quarter. Finally, Nilsine Partners LLC boosted its stake in PulteGroup by 929.2% during the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company's stock worth $2,240,000 after buying an additional 18,575 shares during the period. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Oppenheimer decreased their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group dropped their target price on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Barclays reduced their target price on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Wedbush restated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Finally, Seaport Res Ptn cut PulteGroup from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $140.86.

PulteGroup Stock Performance

Shares of PHM traded down $2.80 during midday trading on Friday, reaching $103.04. 1,818,711 shares of the stock were exchanged, compared to its average volume of 2,221,906. The business's 50-day moving average price is $111.18 and its 200 day moving average price is $125.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a twelve month low of $101.13 and a twelve month high of $149.47. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.28 and a beta of 1.68.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's dividend payout ratio is currently 5.98%.

PulteGroup announced that its Board of Directors has approved a stock buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other PulteGroup news, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock valued at $2,256,367 over the last quarter. 0.83% of the stock is currently owned by insiders.

PulteGroup 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.