BNP Paribas Financial Markets Raises Holdings in PulteGroup, Inc. $PHM

BNP Paribas Financial Markets increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 14.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 707,771 shares of the construction company’s stock after purchasing an additional 88,733 shares during the quarter. BNP Paribas Financial Markets’ holdings in PulteGroup were worth $82,993,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in PulteGroup in the 4th quarter valued at $466,653,000. Eurizon Capital SGR S.p.A. purchased a new stake in PulteGroup in the 4th quarter valued at $14,535,000. Fideuram Asset Management Ireland dac purchased a new stake in PulteGroup in the 4th quarter valued at $17,258,000. National Pension Service grew its holdings in PulteGroup by 3.8% in the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock valued at $59,503,000 after buying an additional 18,455 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in PulteGroup in the 4th quarter valued at $14,580,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lila Snyder sold 3,339 shares of the stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $117.77 on Tuesday. PulteGroup, Inc. has a 52 week low of $95.20 and a 52 week high of $144.49. The business’s fifty day simple moving average is $119.03 and its 200-day simple moving average is $124.03. The firm has a market cap of $22.43 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.50 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 (NYSE:PHM) last announced 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 net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the company earned $2.57 EPS. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup declared that its board has initiated a stock buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

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

Wall Street Analyst Weigh In

PHM has been the subject of several analyst reports. Truist Financial dropped 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. JPMorgan Chase & Co. dropped their target price on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Oppenheimer restated an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Raymond James Financial restated an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a report on Wednesday, February 4th. Finally, Bank of America decreased their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.

PulteGroup 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.