PulteGroup, Inc. $PHM Position Increased by Kentucky Retirement Systems

Kentucky Retirement Systems boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 130.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,463 shares of the construction company’s stock after purchasing an additional 16,120 shares during the period. Kentucky Retirement Systems’ holdings in PulteGroup were worth $3,348,000 at the end of the most recent reporting period.

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

PulteGroup Trading Down 2.5%

Shares of PHM stock opened at $129.05 on Friday. PulteGroup, Inc. has a 12 month low of $108.49 and a 12 month high of $144.49. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $125.54 and its two-hundred day moving average is $125.52. The company has a market cap of $24.19 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.64 and a beta of 1.18.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. PulteGroup’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.03 earnings per share. Equities analysts predict that PulteGroup, Inc. will post 10.08 EPS for the current year.

PulteGroup announced that its Board of Directors has approved a share buyback 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at PulteGroup

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays increased their price target on shares of PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. UBS Group reaffirmed a “buy” rating and issued a $166.00 price objective on shares of PulteGroup in a research note on Thursday, July 23rd. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings raised shares of PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada raised 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. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.14.

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.