Los Angeles Capital Management LLC Cuts Position in PulteGroup, Inc. $PHM

Los Angeles Capital Management LLC lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 41.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 63,764 shares of the construction company’s stock after selling 44,692 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PulteGroup were worth $7,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. increased its stake in shares of PulteGroup by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock valued at $1,704,513,000 after purchasing an additional 609,640 shares in the last quarter. Norges Bank acquired a new stake in PulteGroup in the 4th quarter worth about $466,653,000. First Trust Advisors LP boosted its holdings in PulteGroup by 13.3% in 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 last quarter. Bank of America Corp DE boosted its holdings in PulteGroup by 13.1% in 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 last quarter. Finally, American Century Companies Inc. boosted its holdings 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 worth $225,024,000 after buying an additional 930,287 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PHM shares. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Evercore lifted their price objective on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Bank of America lowered their price objective 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 upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. 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 investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

Insider Activity at PulteGroup

In other 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 transaction of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. The trade was a 48.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the business’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 value of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

PulteGroup Trading Down 0.5%

Shares of PulteGroup stock opened at $117.76 on Tuesday. The stock has a market cap of $22.43 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.50 and a beta of 1.20. The stock’s 50 day simple moving average is $119.09 and its 200-day simple moving average is $124.06. PulteGroup, Inc. has a 1-year low of $98.27 and a 1-year high of $144.49. 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 (NYSE:PHM) last issued its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share 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 company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 earnings per share. Analysts predict that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

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

PulteGroup 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.