Northwestern Mutual Wealth Management Co. Has $5.92 Million Stock Position in PulteGroup, Inc. $PHM

Northwestern Mutual Wealth Management Co. grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 144.4% during the 4th quarter, Holdings Channel reports. The firm owned 50,463 shares of the construction company’s stock after buying an additional 29,818 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in PulteGroup were worth $5,917,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PHM. AGF Management Ltd. acquired a new position in shares of PulteGroup during the 3rd quarter worth approximately $174,347,000. American Century Companies Inc. increased its holdings in shares of PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock worth $225,024,000 after acquiring an additional 930,287 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of PulteGroup by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock worth $1,704,513,000 after acquiring an additional 609,640 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of PulteGroup by 13.3% during the 3rd quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock worth $478,828,000 after acquiring an additional 424,011 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of PulteGroup during the 4th quarter worth approximately $40,739,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of recent analyst reports. Bank of America decreased their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. The Goldman Sachs Group boosted their target price on PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Oppenheimer reissued an “outperform” rating and set a $149.00 target price (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Finally, Royal Bank Of Canada boosted their target price on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $116.48 on Friday. 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’s fifty day moving average price is $119.25 and its two-hundred day moving average price is $124.07. PulteGroup, Inc. has a one year low of $95.20 and a one year high of $144.49. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.48 and a beta of 1.23.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS 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 firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the company earned $2.57 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities analysts forecast that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Dividend Announcement

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

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

Insiders Place Their Bets

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction 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 transaction, the director directly owned 3,540 shares of the company’s stock, valued at $414,817.20. This represents a 48.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares in the company, valued at approximately $2,069,333.19. This represents a 26.07% 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.

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.