Havemeyer Place LP Purchases New Stake in PulteGroup, Inc. $PHM

Havemeyer Place LP purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,748 shares of the construction company’s stock, valued at approximately $909,000.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of PulteGroup by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock valued at $67,387,000 after buying an additional 13,259 shares in the last quarter. Dorato Capital Management purchased a new stake in shares of PulteGroup in the fourth quarter valued at approximately $2,625,000. Concurrent Investment Advisors LLC boosted its position in PulteGroup by 166.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock worth $1,964,000 after purchasing an additional 10,467 shares in the last quarter. EFG Asset Management Americas Corp. boosted its position in PulteGroup by 351.9% during the third 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 in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in PulteGroup by 16.1% during the third quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock worth $49,050,000 after purchasing an additional 51,506 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of research analyst reports. Evercore boosted their target price on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Seaport Research Partners reiterated a “sell” rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Barclays decreased their target price 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. Finally, Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.71.

Insider Buying and Selling at PulteGroup

In other news, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction 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 sale, the director directly owned 3,540 shares in the company, valued at $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction on 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 sale, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is owned by corporate insiders.

PulteGroup Stock Up 0.2%

Shares of NYSE:PHM opened at $118.58 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52-week low of $98.27 and a 52-week high of $144.49. The stock’s fifty day simple moving average is $119.08 and its 200-day simple moving average is $124.03. The company has a market capitalization of $22.59 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.50 and a beta of 1.20.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share (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 analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the company earned $2.57 earnings per share. The firm’s revenue was down 12.4% compared to the same quarter last year. As a group, equities research analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

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

PulteGroup announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.