USS Investment Management Ltd Boosts Stock Position in PulteGroup, Inc. $PHM

USS Investment Management Ltd boosted its position in PulteGroup, Inc. (NYSE:PHM) by 13.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,555 shares of the construction company’s stock after purchasing an additional 5,057 shares during the quarter. USS Investment Management Ltd’s holdings in PulteGroup were worth $4,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Focus Partners Wealth boosted its position in PulteGroup by 20.5% during the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after acquiring an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in PulteGroup by 197.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after acquiring an additional 804 shares during the last quarter. Guggenheim Capital LLC lifted its stake in shares of PulteGroup by 12.9% during the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after purchasing an additional 975 shares during the period. Baird Financial Group Inc. lifted its stake in shares of PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after purchasing an additional 2,164 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of PulteGroup by 17.6% during the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 6,240 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PHM shares. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Seaport Research Partners reissued a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Truist Financial cut their price objective on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company raised their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Finally, Bank of America lowered their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 20th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.71.

Insider Transactions at PulteGroup

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the sale, the director owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Matthew William Koart sold 7,457 shares of the firm’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 transaction of $894,840.00. Following the transaction, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

PulteGroup Stock Up 0.9%

PHM opened at $133.79 on Friday. PulteGroup, Inc. has a 1 year low of $107.07 and a 1 year high of $144.49. The firm has a 50 day moving average price of $122.11 and a 200 day moving average price of $124.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $25.49 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18.

PulteGroup (NYSE:PHM) last announced its quarterly 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). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the firm earned $2.57 earnings per share. The company’s quarterly revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

PulteGroup Dividend Announcement

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

PulteGroup declared that its Board of Directors has approved a stock buyback program on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

PulteGroup Company 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.