Hsbc Holdings PLC Raises Stock Position in PulteGroup, Inc. $PHM

Hsbc Holdings PLC grew its stake in PulteGroup, Inc. (NYSE:PHM) by 6.8% in the 1st quarter, Holdings Channel reports. The firm owned 706,836 shares of the construction company’s stock after purchasing an additional 44,719 shares during the period. Hsbc Holdings PLC’s holdings in PulteGroup were worth $82,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rachor Investment Advisory Services LLC bought a new position in PulteGroup in the fourth quarter worth about $31,000. HHM Wealth Advisors LLC grew its holdings in shares of PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after acquiring an additional 168 shares during the period. DV Equities LLC purchased a new position in shares of PulteGroup during the 4th quarter worth approximately $32,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup in the 4th quarter worth approximately $33,000. Finally, High Point Wealth Management LLC bought a new position in shares of PulteGroup in the 4th quarter worth approximately $38,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the company’s 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 transaction, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their position. The sale 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 dated Friday, May 8th. The shares were 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 $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.75% of the company’s stock.

PulteGroup Stock Down 0.1%

Shares of NYSE:PHM opened at $125.92 on Monday. The stock has a fifty day simple moving average of $122.92 and a two-hundred day simple moving average of $125.03. The stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.61 and a beta of 1.18. PulteGroup, Inc. has a 12-month low of $107.91 and a 12-month high of $144.49. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the firm posted $2.57 earnings per share. The company’s revenue was down 12.4% compared to the same quarter last year. On average, research analysts anticipate that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup announced that its board has approved a share buyback plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 16th. PulteGroup’s payout ratio is currently 10.06%.

Analyst Ratings Changes

A number of research firms have recently commented on PHM. Truist Financial lowered their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company raised their price objective on PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Barclays upped their target price on shares of PulteGroup from $112.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group lifted their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.21.

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.