Mediolanum International Funds Ltd Grows Position in PulteGroup, Inc. $PHM

Mediolanum International Funds Ltd increased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 230.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,171 shares of the construction company’s stock after acquiring an additional 7,095 shares during the quarter. Mediolanum International Funds Ltd’s holdings in PulteGroup were worth $1,157,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PHM. Spartan Wealth Advisory Services LLC purchased a new stake in PulteGroup in the 1st quarter worth $4,026,000. Kinsale Capital Group Inc. grew its position in shares of PulteGroup by 5.0% during the first quarter. Kinsale Capital Group Inc. now owns 72,686 shares of the construction company’s stock valued at $8,549,000 after purchasing an additional 3,450 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of PulteGroup by 4.1% in the first quarter. California Public Employees Retirement System now owns 420,701 shares of the construction company’s stock worth $49,479,000 after purchasing an additional 16,536 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of PulteGroup by 7.9% in the first quarter. Gryphon Financial Partners LLC now owns 5,850 shares of the construction company’s stock worth $688,000 after purchasing an additional 428 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of PulteGroup by 11.2% in the first quarter. Bessemer Group Inc. now owns 9,036 shares of the construction company’s stock worth $1,061,000 after buying an additional 910 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PHM has been the subject of a number of research reports. Wells Fargo & Company increased their price target on PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. UBS Group upped their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Barclays increased their target price on PulteGroup from $112.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Bank of America cut their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, The Goldman Sachs Group boosted their price target on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.21.

Insider Buying and Selling at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the firm’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 directly owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction 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 transaction, the director directly owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Trading Up 0.9%

PHM opened at $124.24 on Wednesday. The stock has a 50-day moving average of $123.27 and a 200 day moving average of $125.12. 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 12 month low of $108.49 and a 12 month high of $144.49. The firm has a market cap of $23.67 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.57 and a beta of 1.18.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data 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 for 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 company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $2.57 earnings per share. As a group, research analysts forecast that PulteGroup, Inc. will post 9.95 EPS for the current year.

PulteGroup Dividend Announcement

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

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

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.