TD Asset Management Inc Has $28.49 Million Position in PulteGroup, Inc. $PHM

TD Asset Management Inc lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 53.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 242,932 shares of the construction company’s stock after purchasing an additional 85,044 shares during the quarter. TD Asset Management Inc’s holdings in PulteGroup were worth $28,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC increased its holdings in shares of PulteGroup by 52.2% during the fourth quarter. REAP Financial Group LLC now owns 866 shares of the construction company’s stock worth $102,000 after buying an additional 297 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of PulteGroup by 59.6% during the 4th quarter. CIBC Asset Management Inc now owns 46,224 shares of the construction company’s stock valued at $5,420,000 after acquiring an additional 17,258 shares in the last quarter. Marble Wealth LLC bought a new stake in PulteGroup during the 4th quarter worth $786,000. Bank of New York Mellon Corp increased its holdings in PulteGroup by 8.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,570,139 shares of the construction company’s stock worth $184,115,000 after purchasing an additional 116,736 shares in the last quarter. Finally, Westpac Banking Corp increased its holdings in PulteGroup by 31.7% in the 4th quarter. Westpac Banking Corp now owns 2,548 shares of the construction company’s stock worth $299,000 after purchasing an additional 614 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the company’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 owned 3,540 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PHM. Truist Financial cut their price target on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Evercore lifted their target price on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Wells Fargo & Company boosted their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Seaport Research Partners restated a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. 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 stock has a consensus rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Price Performance

Shares of PHM opened at $118.58 on Monday. The business has a 50-day moving average of $119.08 and a 200-day moving average of $124.03. 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 company has a market capitalization of $22.59 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. PulteGroup, Inc. has a 1 year low of $98.27 and a 1 year high of $144.49.

PulteGroup (NYSE:PHM) last announced 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). The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.57 earnings per share. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 10 earnings per share for the current year.

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

PulteGroup Dividend Announcement

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

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.