Concord Wealth Partners Has $566,000 Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Concord Wealth Partners increased its position in PulteGroup, Inc. (NYSE:PHM) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,197 shares of the construction company’s stock after buying an additional 195 shares during the quarter. Concord Wealth Partners’ holdings in PulteGroup were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Fortitude Family Office LLC raised its stake in shares of PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in PulteGroup in the third quarter valued at $29,000. R Squared Ltd bought a new position in PulteGroup during the 4th quarter worth $39,000. JNBA Financial Advisors bought a new stake in shares of PulteGroup in the 3rd quarter valued at about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of PulteGroup by 1,059.3% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after buying an additional 286 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 4.0 %

Shares of PulteGroup stock opened at $113.73 on Friday. The stock has a fifty day moving average price of $118.03 and a 200-day moving average price of $127.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $23.32 billion, a PE ratio of 8.39, a P/E/G ratio of 0.49 and a beta of 1.67. PulteGroup, Inc. has a 1 year low of $100.24 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. Equities research analysts anticipate that PulteGroup, Inc. will post 13.06 EPS for the current year.

PulteGroup announced that its Board of Directors has initiated a stock buyback plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is 6.49%.

Wall Street Analyst Weigh In

Several analysts recently commented on PHM shares. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. The Goldman Sachs Group reduced their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI dropped their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. BTIG Research lifted their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Oppenheimer dropped 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

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.