Y Intercept Hong Kong Ltd Sells 36,099 Shares of PulteGroup, Inc. $PHM

Y Intercept Hong Kong Ltd trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 60.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,168 shares of the construction company’s stock after selling 36,099 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in PulteGroup were worth $2,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PHM. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of PulteGroup by 20.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,054 shares of the construction company’s stock worth $7,886,000 after purchasing an additional 11,400 shares in the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of PulteGroup by 19.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 8,392 shares of the construction company’s stock valued at $989,000 after purchasing an additional 1,339 shares in the last quarter. Blue Capital Inc. acquired a new stake in shares of PulteGroup in the first quarter valued at approximately $262,000. Keybank National Association OH bought a new position in PulteGroup in the 1st quarter worth approximately $646,000. Finally, USS Investment Management Ltd lifted its holdings in PulteGroup by 13.9% during the 1st quarter. USS Investment Management Ltd now owns 41,555 shares of the construction company’s stock worth $4,889,000 after buying an additional 5,057 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

PHM has been the subject of several research reports. UBS Group lifted their target price on PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Evercore upped their price target on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Wells Fargo & Company raised their price target on PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial lowered 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. Finally, Barclays cut their target price on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.43.

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 shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lila Snyder sold 3,339 shares of the company’s 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 completion of the sale, the director directly owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Stock Down 1.2%

NYSE:PHM opened at $129.76 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12-month low of $107.16 and a 12-month high of $144.49. The stock’s fifty day simple moving average is $122.29 and its 200-day simple moving average is $124.71. The firm has a market capitalization of $24.72 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.67 and a beta of 1.18.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $2.57 EPS. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities research analysts expect that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared 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%.

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