PulteGroup, Inc. $PHM Holdings Lifted by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 87.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,185 shares of the construction company’s stock after buying an additional 4,763 shares during the quarter. Intech Investment Management LLC’s holdings in PulteGroup were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PHM. Focus Partners Wealth grew its holdings in shares of PulteGroup by 20.5% during the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after buying an additional 2,128 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in PulteGroup by 197.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after purchasing an additional 804 shares during the last quarter. Guggenheim Capital LLC boosted its position in PulteGroup by 12.9% during the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after purchasing an additional 975 shares during the last quarter. Baird Financial Group Inc. boosted its position in PulteGroup by 8.0% during the second quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in PulteGroup by 17.6% during the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after purchasing an additional 6,240 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PHM shares. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. The Goldman Sachs Group lifted their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Truist Financial reduced their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Seaport Research Partners reissued a “sell” rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Finally, Evercore lifted their price objective on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $140.71.

Insider Activity

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by company insiders.

PulteGroup Price Performance

NYSE PHM opened at $118.58 on Friday. PulteGroup, Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $144.49. The stock’s 50-day moving average is $119.08 and its two-hundred day moving average is $123.96. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $22.59 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20.

PulteGroup (NYSE:PHM) last posted 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 net margin of 12.14% and a return on equity of 16.41%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business earned $2.57 earnings per share. PulteGroup’s quarterly revenue was down 12.4% on a year-over-year basis. On average, analysts anticipate 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. Shareholders 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 yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is 10.06%.

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

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.