PulteGroup, Inc. $PHM Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 485,465 shares of the construction company’s stock after selling 47,317 shares during the period. Pictet Asset Management Holding SA’s holdings in PulteGroup were worth $57,069,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Focus Partners Wealth raised its stake in PulteGroup by 20.5% in the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after buying an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of PulteGroup by 197.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after acquiring an additional 804 shares during the last quarter. Guggenheim Capital LLC increased its holdings 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 valued at $898,000 after acquiring an additional 975 shares in the last quarter. Baird Financial Group Inc. increased its holdings 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 valued at $3,065,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Cerity Partners LLC raised its position 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 valued at $4,395,000 after purchasing an additional 6,240 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $137.76 on Tuesday. PulteGroup, Inc. has a 52 week low of $104.04 and a 52 week high of $144.49. The business’s 50 day moving average price is $121.69 and its 200 day moving average price is $124.40. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market cap of $26.24 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.75 and a beta of 1.20.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the business posted $2.57 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts expect that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors 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 0.8%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is 10.06%.

PulteGroup declared that its Board of Directors has authorized a stock 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 purchase up to 6.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on PHM. The Goldman Sachs Group lifted their target price on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Wells Fargo & Company raised their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. UBS Group lifted their price objective on shares of PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Truist Financial dropped their price objective 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. Finally, Barclays cut their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Ten 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.71.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the 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 sale, the chief operating officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company 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.