Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New $15.95 Million Investment in PulteGroup, Inc. $PHM

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 136,020 shares of the construction company’s stock, valued at approximately $15,950,000.

Several other hedge funds have also bought and sold shares of the stock. Evergreen Capital Management LLC lifted its stake in PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after purchasing an additional 78 shares in the last quarter. Stephens Inc. AR lifted its stake in PulteGroup by 3.5% in the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after purchasing an additional 80 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in PulteGroup by 3.6% in the 4th quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock worth $313,000 after purchasing an additional 92 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in PulteGroup by 5.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company’s stock worth $229,000 after purchasing an additional 94 shares in the last quarter. Finally, Opal Wealth Advisors LLC increased its holdings in shares of PulteGroup by 4.8% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock worth $254,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Activity

In other news, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This represents a 48.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the sale, the executive vice president directly owned 14,673 shares of the company’s stock, valued at $2,069,333.19. The trade was a 26.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PHM. The Goldman Sachs Group boosted their target price on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Barclays cut their price target on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Bank of America cut their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Wells Fargo & Company upped their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, UBS Group upped their price target on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Price Performance

PulteGroup stock opened at $110.95 on Wednesday. The stock has a market cap of $21.13 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. PulteGroup, Inc. has a 1 year low of $95.20 and a 1 year high of $144.49. The firm has a 50-day moving average of $119.75 and a two-hundred day moving average of $124.17.

PulteGroup (NYSE:PHM) last released 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). The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. PulteGroup’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. On average, research analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup announced that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

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

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.