PulteGroup, Inc. $PHM Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,354 shares of the construction company’s stock after selling 4,537 shares during the period. QRG Capital Management Inc. owned approximately 0.08% of PulteGroup worth $17,162,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

PHM has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Citizens Jmp initiated coverage on shares of PulteGroup in a report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. The Goldman Sachs Group raised their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Raymond James Financial restated an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.71.

Insider Transactions at PulteGroup

In related news, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.79, for a total value of $2,078,809.11. Following the sale, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. This trade represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction dated 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,952 shares of company stock worth $20,162,165 over the last 90 days. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Trading Down 3.3%

PulteGroup stock opened at $115.26 on Tuesday. The firm’s 50-day moving average is $124.18 and its 200-day moving average is $124.71. 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 1 year low of $95.20 and a 1 year high of $144.49. The company has a market cap of $21.96 billion, a P/E ratio of 11.15, a PEG ratio of 1.51 and a beta of 1.23.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the business posted $2.57 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities analysts expect that PulteGroup, Inc. will post 10.02 earnings per share for the current year.

PulteGroup Dividend Announcement

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

PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 23rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

PulteGroup 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.