Lombard Odier Asset Management USA Corp Decreases Holdings in PulteGroup, Inc. $PHM

Lombard Odier Asset Management USA Corp lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 34.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,488 shares of the construction company’s stock after selling 5,992 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in PulteGroup were worth $1,347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC raised its holdings in shares of PulteGroup by 18.3% in the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock worth $57,000 after buying an additional 75 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in shares of PulteGroup by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after buying an additional 78 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of PulteGroup by 3.5% in the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after buying an additional 80 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of PulteGroup by 3.6% in the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock worth $313,000 after buying an additional 92 shares during the last quarter. Finally, Opal Wealth Advisors LLC raised its holdings in shares of PulteGroup by 4.8% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock worth $254,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PHM shares. The Goldman Sachs Group raised their price target on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Wells Fargo & Company raised their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Truist Financial decreased their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, Citigroup raised their price target on shares of PulteGroup from $136.00 to $138.00 and gave the stock a “neutral” 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Stock Up 1.5%

NYSE:PHM opened at $124.74 on Wednesday. The firm has a market capitalization of $23.76 billion, a P/E ratio of 12.06, a PEG ratio of 1.56 and a beta of 1.20. PulteGroup, Inc. has a 1-year low of $98.27 and a 1-year high of $144.49. The company’s fifty day moving average price is $119.86 and its 200-day moving average price is $124.17. 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 released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The business had revenue of $3.41 billion during 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 firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 EPS. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Announces Dividend

The firm 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 is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio is presently 10.06%.

PulteGroup announced that its board has approved a stock buyback plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the sale, the director owned 3,540 shares in the company, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is 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.