Saber Capital Managment LLC Makes New Investment in PulteGroup, Inc. $PHM

Saber Capital Managment LLC acquired a new position in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,116 shares of the construction company’s stock, valued at approximately $952,000. PulteGroup accounts for 0.8% of Saber Capital Managment LLC’s investment portfolio, making the stock its 21st biggest holding.

A number of other large investors also recently modified their holdings of PHM. Focus Partners Wealth raised its holdings in shares of PulteGroup by 20.5% in the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after purchasing an additional 2,128 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of PulteGroup by 197.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after purchasing an additional 804 shares during the period. Guggenheim Capital LLC raised its holdings in shares of PulteGroup by 12.9% in the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after purchasing an additional 975 shares during the period. Baird Financial Group Inc. raised its holdings in shares of PulteGroup by 8.0% in the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after purchasing an additional 2,164 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of PulteGroup by 17.6% in the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 6,240 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price objective on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Bank of America cut their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Truist Financial cut their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Citigroup raised their target price on PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Evercore raised their target price on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $123.13 on Monday. The company has a market cap of $23.45 billion, a P/E ratio of 11.91, a PEG ratio of 1.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. PulteGroup, Inc. has a one year low of $98.27 and a one year high of $144.49. The business’s 50-day simple moving average is $119.61 and its 200 day simple moving average is $124.21.

PulteGroup (NYSE:PHM) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 earnings per share. On average, sell-side analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors 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 0.8%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is presently 10.06%.

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

Insider Activity

In related news, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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.