BNP Paribas Has $2.81 Million Stake in PulteGroup, Inc. $PHM

BNP Paribas raised its stake in PulteGroup, Inc. (NYSE:PHM) by 147.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,952 shares of the construction company’s stock after buying an additional 14,264 shares during the quarter. BNP Paribas’ holdings in PulteGroup were worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PHM. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup in the fourth quarter valued at about $31,000. Lloyd Advisory Services LLC. acquired a new position in PulteGroup in the fourth quarter valued at about $33,000. High Point Wealth Management LLC acquired a new position in PulteGroup in the fourth quarter valued at about $38,000. Beacon Financial Strategies CORP acquired a new position in PulteGroup in the fourth quarter valued at about $40,000. Finally, Elyxium Wealth LLC acquired a new position in PulteGroup in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Up 0.1%

PHM stock opened at $117.80 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $119.03 and a two-hundred day moving average price of $124.03. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.49 and a beta of 1.20. PulteGroup, Inc. has a twelve month low of $96.46 and a twelve month high of $144.49.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 earnings per share. Analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup declared that its Board of Directors has approved a stock buyback program on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders 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 (DPR) is currently 10.06%.

Insider Buying and Selling

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the firm’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 value of $894,840.00. Following the completion of the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction that occurred on 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. This represents a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays dropped their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Evercore raised 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. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.71.

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.