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

TD Asset Management Inc lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 53.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 242,932 shares of the construction company’s stock after acquiring an additional 85,044 shares during the quarter. TD Asset Management Inc owned approximately 0.13% of PulteGroup worth $28,486,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Franklin Resources Inc. boosted its position in PulteGroup by 5.0% during the third quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock worth $1,704,513,000 after purchasing an additional 609,640 shares during the period. Norges Bank acquired a new stake in shares of PulteGroup during the 4th quarter worth about $466,653,000. First Trust Advisors LP boosted 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 buying an additional 424,011 shares during the period. Bank of America Corp DE boosted its holdings in shares of PulteGroup by 13.1% during the 2nd quarter. Bank of America Corp DE now owns 1,755,241 shares of the construction company’s stock worth $185,108,000 after buying an additional 202,870 shares during the period. Finally, American Century Companies Inc. grew its stake in PulteGroup by 120.4% in the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after buying an additional 930,287 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $118.58 on Monday. The business has a fifty day moving average price of $119.08 and a two-hundred day moving average price of $124.03. The stock has a market capitalization of $22.59 billion, a PE ratio of 11.47, a P/E/G ratio of 1.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. PulteGroup, Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $144.49.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.57 earnings per share. As a group, equities analysts predict that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

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

PulteGroup Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

Insider Activity at PulteGroup

In other news, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the 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 sale, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PHM shares. Truist Financial lowered their price target 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. UBS Group boosted their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wells Fargo & Company lifted their price target on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, 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 note on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.71.

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.