Swedbank AB Sells 13,525 Shares of PulteGroup, Inc. $PHM

Swedbank AB lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 571,130 shares of the construction company’s stock after selling 13,525 shares during the period. Swedbank AB’s holdings in PulteGroup were worth $66,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PHM. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in PulteGroup by 7.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 423,707 shares of the construction company’s stock valued at $50,451,000 after buying an additional 30,988 shares in the last quarter. Principal Financial Group Inc. grew its holdings in PulteGroup by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 314,762 shares of the construction company’s stock valued at $36,909,000 after buying an additional 1,827 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in PulteGroup by 5.7% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,886 shares of the construction company’s stock valued at $1,511,000 after buying an additional 692 shares in the last quarter. Truist Financial Corp grew its holdings in PulteGroup by 1.6% in the 4th quarter. Truist Financial Corp now owns 81,823 shares of the construction company’s stock valued at $9,595,000 after buying an additional 1,257 shares in the last quarter. Finally, Montag A & Associates Inc. grew its holdings in PulteGroup by 17.6% in the 4th quarter. Montag A & Associates Inc. now owns 40,068 shares of the construction company’s stock valued at $4,705,000 after buying an additional 5,987 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of a number of research reports. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. The Goldman Sachs Group upped their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Barclays decreased their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. decreased their price objective on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Finally, Weiss Ratings lowered PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

PulteGroup Stock Performance

PHM opened at $120.10 on Thursday. The firm has a market cap of $22.88 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23. PulteGroup, Inc. has a 52-week low of $95.20 and a 52-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 business’s fifty day moving average is $123.34 and its 200-day moving average is $124.64.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.57 earnings per share. Sell-side analysts expect that PulteGroup, Inc. will post 10.02 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio is 10.06%.

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

Insider Buying and Selling

In other news, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the sale, the vice president directly owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. This represents a 31.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the sale, the executive vice president directly owned 14,673 shares in the company, valued at approximately $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,702 shares of company stock valued at $5,270,240. Company insiders own 0.75% of the company’s stock.

PulteGroup 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.