PulteGroup, Inc. $PHM Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 526.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,067 shares of the construction company’s stock after purchasing an additional 163,100 shares during the period. Renaissance Technologies LLC owned 0.10% of PulteGroup worth $22,824,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in PulteGroup by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after buying an additional 655,033 shares during the last quarter. First Trust Advisors LP lifted its stake in PulteGroup by 7.8% during the first quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock worth $507,428,000 after purchasing an additional 313,581 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in PulteGroup by 126.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after purchasing an additional 2,392,580 shares in the last quarter. Norges Bank acquired a new stake in PulteGroup during the fourth quarter worth approximately $466,653,000. Finally, Dimensional Fund Advisors LP raised its holdings in PulteGroup by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company’s stock worth $370,008,000 after purchasing an additional 26,790 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of several research analyst reports. Seaport Research Partners restated a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Wells Fargo & Company lifted their target price on PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Royal Bank Of Canada boosted their target price on PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Citigroup decreased their target price on PulteGroup from $138.00 to $134.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Finally, Truist Financial dropped their price target on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.14.

PulteGroup Stock Down 1.8%

PulteGroup stock opened at $132.30 on Thursday. The stock has a market capitalization of $24.80 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.67 and a beta of 1.18. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $125.29 and a two-hundred day moving average of $125.54. PulteGroup, Inc. has a twelve month low of $108.49 and a twelve month high of $144.49.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.12. The firm 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 company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the company earned $3.03 earnings per share. As a group, research analysts expect that PulteGroup, Inc. will post 10.08 earnings per share for the current year.

PulteGroup announced that its board has authorized a share repurchase program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of the stock in a transaction dated Wednesday, May 27th. The shares were 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 owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. This represents a 48.54% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by company 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.