Hsbc Holdings PLC decreased its position in PulteGroup, Inc. (NYSE:PHM – Free Report) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 662,117 shares of the construction company’s stock after selling 14,297 shares during the quarter. Hsbc Holdings PLC’s holdings in PulteGroup were worth $77,679,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. Rachor Investment Advisory Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $31,000. DV Equities LLC bought a new stake in shares of PulteGroup in the fourth quarter worth $32,000. Lloyd Advisory Services LLC. acquired a new position in PulteGroup during the fourth quarter worth $33,000. High Point Wealth Management LLC acquired a new position in PulteGroup during the fourth quarter worth $38,000. Finally, Beacon Financial Strategies CORP acquired a new position in PulteGroup during the fourth quarter worth $40,000. Institutional investors and hedge funds own 89.90% of the company’s stock.
Insider Activity
In related news, COO Matthew William Koart sold 7,457 shares of PulteGroup 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 completion of the transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.75% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on PulteGroup
PulteGroup Price Performance
Shares of PHM opened at $125.74 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $120.34 and its 200 day simple moving average is $124.12. PulteGroup, Inc. has a 1-year low of $100.70 and a 1-year high of $144.49. The company has a market cap of $23.95 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.61 and a beta of 1.20.
PulteGroup (NYSE:PHM – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the business earned $2.57 EPS. The business’s revenue was down 12.4% compared to the same quarter last year. On average, research analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.
PulteGroup declared that its board has approved a share buyback program on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
PulteGroup Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio is presently 10.06%.
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.
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