Bank Julius Baer & Co. Ltd Zurich Has $3.24 Million Stock Position in PulteGroup, Inc. $PHM

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 27.5% in the fourth quarter, HoldingsChannel reports. The fund owned 27,428 shares of the construction company’s stock after selling 10,417 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in PulteGroup were worth $3,237,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PHM. Focus Partners Wealth boosted its position in PulteGroup by 20.5% during the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after acquiring an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in PulteGroup by 197.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after acquiring an additional 804 shares during the last quarter. Guggenheim Capital LLC boosted its position in PulteGroup by 12.9% during the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after acquiring an additional 975 shares during the last quarter. Baird Financial Group Inc. boosted its position in PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after acquiring an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after acquiring an additional 6,240 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the sale, the executive vice president owned 14,673 shares in the company, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lila Snyder sold 3,339 shares of the stock in a transaction 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 owned 3,540 shares in the company, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Trading Down 3.1%

NYSE PHM opened at $110.35 on Friday. The company has a market cap of $21.02 billion, a PE ratio of 10.67, a PEG ratio of 1.44 and a beta of 1.23. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12 month low of $95.20 and a 12 month high of $144.49. The stock has a 50 day moving average of $120.44 and a 200-day moving average of $124.25.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS 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 during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the company posted $2.57 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase 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 buy up to 6.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio is 10.06%.

Analyst Ratings Changes

A number of equities analysts have weighed in on PHM shares. Barclays reduced their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Evercore increased their price objective on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a report on Friday, April 24th. JPMorgan Chase & Co. cut their price objective on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Truist Financial cut their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, Wells Fargo & Company increased their price objective on PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.71.

About PulteGroup

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.