Lombard Odier Asset Management Switzerland SA Invests $1.11 Million in PulteGroup, Inc. $PHM

Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,400 shares of the construction company’s stock, valued at approximately $1,106,000.

Several other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC lifted its position in shares of PulteGroup by 1,650.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. NFSG Corp purchased a new stake in shares of PulteGroup in the first quarter valued at $29,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter worth $31,000. DV Equities LLC acquired a new stake in shares of PulteGroup in the fourth quarter worth $32,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after buying an additional 168 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PulteGroup

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction that occurred on 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 $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction 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. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by company insiders.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $130.44 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. PulteGroup, Inc. has a one year low of $108.49 and a one year high of $144.49. The business’s 50-day moving average price is $124.49 and its two-hundred day moving average price is $125.35. The company has a market capitalization of $24.45 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.60 and a beta of 1.18.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the business earned $3.03 EPS. Analysts anticipate that PulteGroup, Inc. will post 10.08 earnings per share for the current fiscal year.

PulteGroup declared that its board has authorized a stock buyback plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is presently 10.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PHM shares. Seaport Research Partners reissued a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Barclays upped their target price on PulteGroup from $123.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday. Truist Financial reduced their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Wells Fargo & Company raised their price target on shares of PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Ten equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.14.

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.