Hsbc Holdings PLC Grows Stock Holdings in PulteGroup, Inc. $PHM

Hsbc Holdings PLC grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 706,836 shares of the construction company’s stock after purchasing an additional 44,719 shares during the period. Hsbc Holdings PLC owned about 0.37% of PulteGroup worth $82,870,000 at the end of the most recent reporting period.

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

PulteGroup Stock Down 0.1%

Shares of PulteGroup stock opened at $125.92 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. PulteGroup, Inc. has a 52-week low of $107.91 and a 52-week high of $144.49. The company’s 50 day moving average price is $122.92 and its 200-day moving average price is $125.03. The stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.61 and a beta of 1.18.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The firm had revenue of $3.41 billion for 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 company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.57 earnings per share. Equities research analysts forecast that PulteGroup, Inc. will post 9.95 EPS for the current year.

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

PulteGroup Announces Dividend

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

Insider Activity

In other news, Director Lila Snyder sold 3,339 shares of the stock in a transaction dated 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 directly owned 3,540 shares in the company, valued at approximately $414,817.20. This represents 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 firm’s 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 completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PHM shares. Barclays upped their price objective on shares of PulteGroup from $112.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Bank of America lowered their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wells Fargo & Company raised their price objective on PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, The Goldman Sachs Group lifted their price objective on PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.21.

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.