University of Texas Texas AM Investment Management Co. Purchases New Position in PulteGroup, Inc. $PHM

University of Texas Texas AM Investment Management Co. purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,032 shares of the construction company’s stock, valued at approximately $590,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC acquired a new stake in PulteGroup in the 4th quarter valued at about $31,000. Lloyd Advisory Services LLC. acquired a new stake in PulteGroup in the 4th quarter valued at about $33,000. High Point Wealth Management LLC acquired a new stake in PulteGroup in the 4th quarter valued at about $38,000. Beacon Financial Strategies CORP acquired a new stake in PulteGroup in the 4th quarter valued at about $40,000. Finally, Elyxium Wealth LLC acquired a new stake in PulteGroup in the 4th quarter valued at about $41,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 0.4%

Shares of NYSE:PHM opened at $122.66 on Tuesday. PulteGroup, Inc. has a one year low of $98.27 and a one year high of $144.49. The company has a 50 day moving average of $119.71 and a 200-day moving average of $124.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $23.37 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.56 and a beta of 1.20.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 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 business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup declared that its Board of Directors has authorized a share 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared 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 is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s payout ratio is currently 10.06%.

Insider Activity at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction 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. The trade was a 20.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director owned 3,540 shares of the company’s stock, valued at approximately $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 owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PHM. Bank of America lowered their price objective 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. Oppenheimer restated an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Seaport Research Partners restated a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. UBS Group raised their price objective on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Weiss Ratings cut shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.71.

About PulteGroup

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.