Jackson Hill Advisors LLC Sells 57,500 Shares of PulteGroup, Inc. $PHM

Jackson Hill Advisors LLC reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 31.9% during the 4th quarter, HoldingsChannel reports. The firm owned 122,500 shares of the construction company’s stock after selling 57,500 shares during the quarter. PulteGroup comprises 6.7% of Jackson Hill Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Jackson Hill Advisors LLC’s holdings in PulteGroup were worth $14,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PHM. Nordea Investment Management AB lifted its holdings in PulteGroup by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock valued at $67,387,000 after acquiring an additional 13,259 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in PulteGroup by 24.2% in the third quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock valued at $41,348,000 after acquiring an additional 61,009 shares during the last quarter. Dorato Capital Management acquired a new position in PulteGroup in the fourth quarter valued at approximately $2,625,000. Concurrent Investment Advisors LLC lifted its holdings in PulteGroup by 166.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock valued at $1,964,000 after acquiring an additional 10,467 shares during the last quarter. Finally, EFG Asset Management Americas Corp. lifted its holdings in PulteGroup by 351.9% in the third quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock valued at $6,177,000 after acquiring an additional 36,407 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

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 transaction of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lila Snyder sold 3,339 shares of the company’s 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 sale, the director directly owned 3,540 shares in the company, valued at $414,817.20. This represents a 48.54% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Stock Down 0.5%

Shares of NYSE PHM opened at $117.19 on Thursday. The firm has a market cap of $22.32 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.49 and a beta of 1.20. 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, Inc. has a 52-week low of $98.27 and a 52-week high of $144.49. The business’s 50 day moving average is $119.07 and its two-hundred day moving average is $124.00.

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 firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.57 EPS. Research analysts predict that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup announced that its board has authorized a share repurchase 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 reacquire up to 6.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio is currently 10.06%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays decreased their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Evercore upped their price objective on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group upped their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.