Kentucky Retirement Systems Grows Stake in PulteGroup, Inc. $PHM

Kentucky Retirement Systems boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 130.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,463 shares of the construction company’s stock after purchasing an additional 16,120 shares during the quarter. Kentucky Retirement Systems’ holdings in PulteGroup were worth $3,348,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. National Pension Service raised its stake in shares of PulteGroup by 3.8% in the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock worth $59,503,000 after buying an additional 18,455 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in PulteGroup by 166.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock valued at $1,964,000 after buying an additional 10,467 shares in the last quarter. Dorato Capital Management acquired a new position in PulteGroup during the fourth quarter worth about $2,625,000. Bayhunt Capital LLC acquired a new position in PulteGroup during the fourth quarter worth about $4,183,000. Finally, Lecap Asset Management Ltd. bought a new stake in PulteGroup in the fourth quarter worth about $2,183,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PHM shares. The Goldman Sachs Group boosted their target price on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Barclays lifted their price target on shares of PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Citigroup cut their price objective on PulteGroup from $138.00 to $134.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. UBS Group restated a “buy” rating and issued a $166.00 target price on shares of PulteGroup in a report on Thursday, July 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Ten equities research 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 has an average rating of “Moderate Buy” and a consensus price target of $143.14.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $129.05 on Friday. The company’s fifty day moving average is $125.54 and its two-hundred day moving average is $125.52. The company has a market cap of $24.19 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.64 and a beta of 1.18. PulteGroup, Inc. has a 12-month low of $108.49 and a 12-month high of $144.49. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the firm posted $3.03 earnings per share. PulteGroup’s revenue was down 9.6% compared to the same quarter last year. Equities analysts expect that PulteGroup, Inc. will post 10.08 earnings per share for the current fiscal year.

PulteGroup declared that its board has authorized a stock buyback 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 buy up to 6.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, 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 value of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lila Snyder sold 3,339 shares of the 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 completion of the sale, the director directly 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. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by corporate 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.