Keybank National Association OH Acquires Shares of 5,496 PulteGroup, Inc. $PHM

Keybank National Association OH bought a new position in PulteGroup, Inc. (NYSE:PHM) during the 1st quarter, Holdings Channel reports. The fund bought 5,496 shares of the construction company’s stock, valued at approximately $646,000.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in PulteGroup by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock valued at $1,589,495,000 after buying an additional 655,033 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of PulteGroup by 126.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock worth $502,366,000 after acquiring an additional 2,392,580 shares in the last quarter. First Trust Advisors LP boosted its position in shares of PulteGroup by 10.4% during the 4th quarter. First Trust Advisors LP now owns 4,000,920 shares of the construction company’s stock valued at $469,148,000 after acquiring an additional 377,003 shares during the last quarter. Norges Bank bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $466,653,000. Finally, Invesco Ltd. grew its holdings in shares of PulteGroup by 5.8% in the fourth quarter. Invesco Ltd. now owns 2,257,211 shares of the construction company’s stock valued at $264,681,000 after purchasing an additional 123,793 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $123.09 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12 month low of $107.16 and a 12 month high of $144.49. The company has a market capitalization of $23.45 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.66 and a beta of 1.18. The firm’s 50-day moving average is $122.18 and its 200 day moving average is $124.72.

PulteGroup (NYSE:PHM) last announced 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). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the business earned $2.57 EPS. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. Research analysts predict that PulteGroup, Inc. will post 9.95 EPS for the current year.

PulteGroup declared that its Board of Directors has approved a share 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 repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

PulteGroup Announces Dividend

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

Insiders Place Their Bets

In related news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction on 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 in the company, valued at $3,372,000. The trade was a 20.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. This trade represents a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PHM has been the topic of several research reports. Seaport Research Partners restated a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Citigroup boosted their target price on shares of PulteGroup from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. The Goldman Sachs Group increased their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, UBS Group lifted their price target on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.43.

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.