PulteGroup, Inc. $PHM Shares Acquired by USS Investment Management Ltd

USS Investment Management Ltd grew its stake in PulteGroup, Inc. (NYSE:PHM) by 13.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 41,555 shares of the construction company’s stock after acquiring an additional 5,057 shares during the period. USS Investment Management Ltd’s holdings in PulteGroup were worth $4,889,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PHM. Golden State Wealth Management LLC increased its holdings in PulteGroup by 18.3% in the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after purchasing an additional 75 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after purchasing an additional 78 shares in the last quarter. Stephens Inc. AR boosted its position in shares of PulteGroup by 3.5% during the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after buying an additional 80 shares during the period. Perigon Wealth Management LLC boosted its position in shares of PulteGroup by 3.6% during the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock worth $313,000 after buying an additional 92 shares during the period. Finally, Opal Wealth Advisors LLC grew its stake in shares of PulteGroup by 4.8% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock valued at $254,000 after buying an additional 99 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup boosted their price objective on PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 24th. The Goldman Sachs Group lifted their target price on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Wells Fargo & Company increased their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Finally, Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned 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 price target of $140.71.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $133.79 on Friday. The firm has a market capitalization of $25.49 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50 day simple moving average is $122.11 and its 200-day simple moving average is $124.56. PulteGroup, Inc. has a 12 month low of $107.07 and a 12 month high of $144.49.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data 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 firm 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 in the prior year, the firm posted $2.57 earnings per share. As a group, equities analysts forecast that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

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

PulteGroup announced that its board has initiated a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, COO Matthew William Koart sold 7,457 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value 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 represents a 20.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the firm’s 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 transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is owned by insiders.

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.