PulteGroup, Inc. $PHM Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 67.8% in the first quarter, HoldingsChannel reports. The firm owned 76,589 shares of the construction company’s stock after selling 160,987 shares during the quarter. SG Americas Securities LLC’s holdings in PulteGroup were worth $9,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in PHM. Franklin Resources Inc. lifted its stake in PulteGroup by 5.1% in the fourth 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of PulteGroup by 126.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after acquiring an additional 2,392,580 shares during the period. First Trust Advisors LP grew its position in shares of PulteGroup by 10.4% during the fourth quarter. First Trust Advisors LP now owns 4,000,920 shares of the construction company’s stock worth $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 fourth quarter worth about $466,653,000. Finally, Invesco Ltd. increased its holdings in shares of PulteGroup by 5.8% in the 4th quarter. Invesco Ltd. now owns 2,257,211 shares of the construction company’s stock worth $264,681,000 after acquiring an additional 123,793 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 sale, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $137.74 on Friday. The stock 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. The firm’s 50-day simple moving average is $121.34 and its 200 day simple moving average is $124.30. PulteGroup, Inc. has a fifty-two week low of $104.04 and a fifty-two week high of $144.49. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14.

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

PulteGroup announced that its Board of Directors has approved a stock repurchase program on Thursday, April 23rd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio is 10.06%.

Wall Street Analyst Weigh In

PHM has been the topic of several recent research reports. Barclays cut their price objective on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Bank of America decreased their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Citigroup raised their price target on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Finally, Truist Financial reduced their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.71.

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.