PulteGroup, Inc. $PHM Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,718,929 shares of the construction company’s stock after selling 107,235 shares during the period. LSV Asset Management’s holdings in PulteGroup were worth $318,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilian Securities LLC acquired a new stake in PulteGroup during the 4th quarter worth about $327,000. Ignite Planners LLC grew its position in PulteGroup by 17.6% during the 4th quarter. Ignite Planners LLC now owns 1,929 shares of the construction company’s stock worth $241,000 after purchasing an additional 289 shares during the period. Axxcess Wealth Management LLC grew its position in PulteGroup by 114.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 14,810 shares of the construction company’s stock worth $1,737,000 after purchasing an additional 7,902 shares during the period. Van Hulzen Asset Management LLC grew its position in PulteGroup by 1.4% during the 4th quarter. Van Hulzen Asset Management LLC now owns 7,116 shares of the construction company’s stock worth $834,000 after purchasing an additional 100 shares during the period. Finally, Global Retirement Partners LLC grew its position in PulteGroup by 54.5% during the 4th quarter. Global Retirement Partners LLC now owns 5,171 shares of the construction company’s stock worth $606,000 after purchasing an additional 1,823 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 3rd. Bank of America cut their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Evercore increased their price target on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company increased their price target on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

PulteGroup Trading Up 0.2%

Shares of PulteGroup stock opened at $116.48 on Friday. The firm has a market capitalization of $22.19 billion, a PE ratio of 11.26, a P/E/G ratio of 1.47 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 twelve month low of $95.20 and a twelve month high of $144.49. The firm’s 50-day moving average price is $119.25 and its 200 day moving average price is $124.07.

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). The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 EPS. On average, sell-side analysts predict that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. PulteGroup’s dividend payout ratio is presently 10.06%.

PulteGroup announced that its board has approved a share buyback 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at PulteGroup

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of 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 dated 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 owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. The trade was 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.

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.