PulteGroup, Inc. $PHM Position Increased by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora boosted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 31.7% in the first quarter, HoldingsChannel reports. The firm owned 54,015 shares of the construction company’s stock after purchasing an additional 13,008 shares during the quarter. PulteGroup makes up approximately 1.3% of OLD Second National Bank of Aurora’s holdings, making the stock its 24th largest holding. OLD Second National Bank of Aurora’s holdings in PulteGroup were worth $6,353,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of PulteGroup by 2.4% in the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock worth $67,387,000 after acquiring an additional 13,259 shares during the period. Concurrent Investment Advisors LLC boosted its stake in PulteGroup by 166.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock valued at $1,964,000 after purchasing an additional 10,467 shares during the period. Dorato Capital Management acquired a new position in PulteGroup during the 4th quarter valued at about $2,625,000. National Pension Service grew its position in PulteGroup by 3.8% in the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock worth $59,503,000 after purchasing an additional 18,455 shares during the last quarter. Finally, EFG Asset Management Americas Corp. grew its position in PulteGroup by 351.9% in the 3rd quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock worth $6,177,000 after purchasing an additional 36,407 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PHM. The Goldman Sachs Group raised their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays decreased their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Truist Financial lowered their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.71.

Insider Activity at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the company’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 sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the director directly owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. The trade was 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 insiders.

PulteGroup Stock Up 1.4%

PulteGroup stock opened at $137.74 on Friday. The stock has a market cap of $26.24 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.73 and a beta of 1.20. 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 50-day moving average price is $121.34 and its two-hundred day moving average price is $124.30. PulteGroup, Inc. has a 52 week low of $104.04 and a 52 week high of $144.49.

PulteGroup (NYSE:PHM) last issued 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 analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. On average, analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup’s payout ratio is presently 10.06%.

PulteGroup declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.