PulteGroup, Inc. $PHM Shares Acquired by Legal & General Group Plc

Legal & General Group Plc raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,410,810 shares of the construction company’s stock after purchasing an additional 27,550 shares during the period. Legal & General Group Plc’s holdings in PulteGroup were worth $165,432,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. AGF Management Ltd. purchased a new stake in shares of PulteGroup during the third quarter valued at $174,347,000. American Century Companies Inc. grew its holdings in shares of PulteGroup by 120.4% during the third 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. Franklin Resources Inc. grew its holdings in shares of PulteGroup by 5.0% during the third quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock valued at $1,704,513,000 after buying an additional 609,640 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of PulteGroup by 13.3% during the third quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock valued at $478,828,000 after buying an additional 424,011 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of PulteGroup during the fourth quarter valued at $40,739,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PHM. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Seaport Research Partners reissued a “sell” rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a report on Tuesday. Royal Bank Of Canada boosted their price objective on shares of PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, Raymond James Financial reissued an “outperform” rating and set a $145.00 price objective on shares of PulteGroup in a report on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.

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 value of $391,264.02. Following the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the transaction, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This trade 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 corporate insiders.

PulteGroup Price Performance

NYSE:PHM opened at $119.06 on Thursday. PulteGroup, Inc. has a one year low of $95.20 and a one year high of $144.49. 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 firm has a market cap of $22.68 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.49 and a beta of 1.23. The firm’s fifty day moving average is $119.08 and its two-hundred day moving average is $124.07.

PulteGroup (NYSE:PHM) last posted its quarterly 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). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company posted $2.57 earnings per share. PulteGroup’s revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts expect that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently declared 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 is presently 10.06%.

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