MUFG Securities EMEA plc Boosts Stock Position in PulteGroup, Inc. $PHM

MUFG Securities EMEA plc raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 610.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,834 shares of the construction company’s stock after purchasing an additional 23,058 shares during the quarter. MUFG Securities EMEA plc’s holdings in PulteGroup were worth $3,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in PulteGroup by 14.3% during the fourth quarter. BNP Paribas Financial Markets now owns 707,771 shares of the construction company’s stock worth $82,993,000 after purchasing an additional 88,733 shares in the last quarter. Norges Bank acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $466,653,000. Eurizon Capital SGR S.p.A. purchased a new position in PulteGroup during the fourth quarter worth approximately $14,535,000. Fideuram Asset Management Ireland dac purchased a new position in PulteGroup during the fourth quarter worth approximately $17,258,000. Finally, National Pension Service lifted its position in PulteGroup by 3.8% during the fourth quarter. National Pension Service now owns 507,443 shares of the construction company’s stock worth $59,503,000 after buying an additional 18,455 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PHM. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Barclays dropped their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Citigroup lifted their target price on PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Bank of America dropped their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, UBS Group lifted their target price on PulteGroup from $159.00 to $162.00 and gave the company a “buy” 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.com, PulteGroup has an average rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Stock Down 0.3%

PHM opened at $117.77 on Tuesday. The stock has a market capitalization of $22.43 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.23. PulteGroup, Inc. has a one year low of $95.20 and a one year high of $144.49. The business’s 50-day simple moving average is $119.03 and its 200-day simple moving average is $124.03. 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 (NYSE:PHM) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.57 EPS. Analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Announces Dividend

The business also recently declared 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. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s payout ratio is 10.06%.

PulteGroup announced that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

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.