PulteGroup, Inc. $PHM Shares Sold by Swedbank AB

Swedbank AB decreased its stake in PulteGroup, Inc. (NYSE:PHM) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor 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 SEC filing.

Several other large investors have also modified their holdings of PHM. Rachor Investment Advisory Services LLC acquired a new position in shares of PulteGroup in the 4th quarter valued at $31,000. Lloyd Advisory Services LLC. acquired a new position in shares of PulteGroup in the 4th quarter valued at $33,000. High Point Wealth Management LLC acquired a new position in shares of PulteGroup in the 4th quarter valued at $38,000. Beacon Financial Strategies CORP purchased a new stake in PulteGroup in the 4th quarter valued at $40,000. Finally, Elyxium Wealth LLC purchased a new stake in PulteGroup in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PHM. Oppenheimer reiterated an “outperform” rating and issued a $149.00 price target (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Citigroup upped their price target on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Truist Financial reduced their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Finally, Royal Bank Of Canada upped their price target on shares of PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $140.71.

PulteGroup Stock Up 0.2%

PHM stock opened at $116.48 on Friday. The company has a fifty day moving average price of $119.25 and a 200 day moving average price of $124.07. PulteGroup, Inc. has a 12 month low of $95.20 and a 12 month high of $144.49. The company has a market cap of $22.19 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The firm had revenue of $3.41 billion for 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 firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.57 EPS. Sell-side analysts expect that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup Announces Dividend

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

PulteGroup declared that its Board of Directors has approved a share buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the transaction, the executive vice president owned 14,673 shares in the company, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by corporate insiders.

About PulteGroup

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.