Qsemble Capital Management LP Purchases Shares of 61,441 PulteGroup, Inc. $PHM

Qsemble Capital Management LP purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 61,441 shares of the construction company’s stock, valued at approximately $7,205,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in shares of PulteGroup by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock valued at $1,704,513,000 after purchasing an additional 609,640 shares in the last quarter. First Trust Advisors LP boosted its position in shares of PulteGroup by 13.3% during the 3rd quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock valued at $478,828,000 after purchasing an additional 424,011 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of PulteGroup during the 3rd quarter valued at about $315,883,000. Bank of America Corp DE boosted its position in shares of PulteGroup by 13.1% during the 2nd quarter. Bank of America Corp DE now owns 1,755,241 shares of the construction company’s stock valued at $185,108,000 after purchasing an additional 202,870 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock worth $225,024,000 after buying an additional 930,287 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $110.35 on Friday. The company has a market cap of $21.02 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 1.44 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 business has a 50 day moving average price of $120.44 and a 200-day moving average price of $124.25. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations 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 earned $2.57 earnings per share. Equities analysts anticipate that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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

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

Wall Street Analysts Forecast Growth

PHM has been the subject of several research analyst reports. UBS Group lifted their price target on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Evercore raised their target price on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Barclays decreased their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Truist Financial dropped their price target on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Finally, The Goldman Sachs Group raised their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

Insider Activity at PulteGroup

In other news, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This represents a 26.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director directly owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Company 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.