Pacer Advisors Inc. lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 735,921 shares of the construction company’s stock after acquiring an additional 55,206 shares during the period. Pacer Advisors Inc.’s holdings in PulteGroup were worth $86,294,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Kera Capital Partners Inc. boosted its stake in PulteGroup by 127.3% during the 4th quarter. Kera Capital Partners Inc. now owns 4,475 shares of the construction company’s stock worth $560,000 after purchasing an additional 2,506 shares during the period. Virtu Financial LLC purchased a new position in PulteGroup during the 4th quarter worth $323,000. Dean Capital Management increased its stake in PulteGroup by 3.2% in the fourth quarter. Dean Capital Management now owns 15,190 shares of the construction company’s stock valued at $1,781,000 after purchasing an additional 469 shares during the period. Compound Planning Inc. increased its stake in PulteGroup by 25.4% in the fourth quarter. Compound Planning Inc. now owns 6,395 shares of the construction company’s stock valued at $750,000 after purchasing an additional 1,296 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of PulteGroup by 5.8% in the fourth quarter. Invesco Ltd. now owns 2,257,211 shares of the construction company’s stock valued at $264,681,000 after buying an additional 123,793 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PHM has been the subject of several recent research reports. Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Truist Financial dropped their price target on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Seaport Research Partners reaffirmed a “sell” rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Evercore lifted their target price on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.
Insider Activity at PulteGroup
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 firm’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 value of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.75% of the company’s stock.
PulteGroup Stock Up 4.2%
PHM stock opened at $127.03 on Friday. The stock has a market capitalization of $24.20 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.55 and a beta of 1.20. The company has a fifty day moving average of $120.14 and a 200-day moving average of $124.13. 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 one year low of $99.45 and a one year high of $144.49.
PulteGroup (NYSE:PHM – Get Free Report) last issued 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). The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.57 earnings per share. As a group, analysts expect that PulteGroup, Inc. will post 10 EPS for the current year.
PulteGroup Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s payout ratio is currently 10.06%.
PulteGroup announced that its board has approved a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy 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 shares are 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.
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