Strs Ohio Reduces Stock Position in PulteGroup, Inc. $PHM

Strs Ohio cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 348,946 shares of the construction company’s stock after selling 10,007 shares during the period. Strs Ohio’s holdings in PulteGroup were worth $41,040,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Rachor Investment Advisory Services LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth $31,000. DV Equities LLC purchased a new position in shares of PulteGroup in the fourth quarter valued at $32,000. HHM Wealth Advisors LLC raised its stake in shares of PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Lloyd Advisory Services LLC. purchased a new stake in PulteGroup during the 4th quarter worth about $33,000. Finally, High Point Wealth Management LLC purchased a new stake in PulteGroup during the 4th quarter worth about $38,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Weiss Ratings downgraded shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Barclays cut their price objective on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Seaport Research Partners reaffirmed a “sell” rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Finally, UBS Group increased their target price 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. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $140.71.

PulteGroup Stock Up 0.1%

PHM stock opened at $133.79 on Friday. The company’s 50 day moving average is $122.23 and its 200 day moving average is $124.62. The stock has a market cap of $25.49 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.70 and a beta of 1.18. 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 1-year low of $107.07 and a 1-year high of $144.49.

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 the consensus estimate of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup declared that its Board of Directors has authorized a share buyback plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Lila Snyder sold 3,339 shares of the stock in a transaction on Friday, May 8th. The stock was 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. This represents a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the firm’s 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 owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

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.