Jefferies Financial Group Inc. Takes Position in PulteGroup, Inc. $PHM

Jefferies Financial Group Inc. bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,981 shares of the construction company’s stock, valued at approximately $936,000.

Several other large investors have also recently made changes to their positions in PHM. Rachor Investment Advisory Services LLC purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $31,000. Lloyd Advisory Services LLC. purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $33,000. High Point Wealth Management LLC purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $38,000. Beacon Financial Strategies CORP purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $40,000. Finally, Elyxium Wealth LLC purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $41,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Royal Bank Of Canada increased their target price on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Wells Fargo & Company increased their target price on PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research note on Tuesday. Finally, Barclays decreased their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

PulteGroup Stock Up 0.3%

PHM stock opened at $118.38 on Friday. PulteGroup, Inc. has a 1-year low of $95.20 and a 1-year high of $144.49. The business has a fifty day moving average price of $119.03 and a 200-day moving average price of $124.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $22.55 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.50 and a beta of 1.23.

PulteGroup (NYSE:PHM) last announced its 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 for 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 quarter in the prior year, the firm posted $2.57 earnings per share. Equities analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm 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 dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup’s payout ratio is presently 10.06%.

PulteGroup declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at $3,372,000. The trade was a 20.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

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.