International Assets Investment Management LLC Sells 5,260 Shares of PulteGroup, Inc. $PHM

International Assets Investment Management LLC lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 95.3% in the 1st quarter, Holdings Channel reports. The firm owned 257 shares of the construction company’s stock after selling 5,260 shares during the period. International Assets Investment Management LLC’s holdings in PulteGroup were worth $30,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in PulteGroup in the 4th quarter worth about $466,653,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of PulteGroup by 126.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after acquiring an additional 2,392,580 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of PulteGroup by 5,485.0% during the 4th quarter. Public Sector Pension Investment Board now owns 930,622 shares of the construction company’s stock valued at $109,125,000 after acquiring an additional 913,959 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of PulteGroup by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after acquiring an additional 655,033 shares during the period. Finally, Milford Funds Ltd. bought a new stake in shares of PulteGroup in the fourth quarter worth approximately $68,379,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Down 2.4%

Shares of PHM stock opened at $125.92 on Friday. 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, Inc. has a one year low of $107.91 and a one year high of $144.49. The company’s fifty day moving average price is $122.92 and its 200-day moving average price is $124.99. The company has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.61 and a beta of 1.18.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the company posted $2.57 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

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

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th were paid a $0.26 dividend. The ex-dividend date of this dividend was 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 10.06%.

Insider Transactions at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the transaction, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lila Snyder sold 3,339 shares of the stock in a transaction that occurred 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 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PHM. Bank of America lowered their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Barclays increased their price target on PulteGroup from $112.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, UBS Group raised their price target on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.21.

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.