PulteGroup, Inc. $PHM Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp lessened its position in shares of PulteGroup, Inc. (NYSE:PHM) by 34.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,488 shares of the construction company’s stock after selling 5,992 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in PulteGroup were worth $1,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Rachor Investment Advisory Services LLC acquired a new stake in PulteGroup during the fourth quarter valued at $31,000. Lloyd Advisory Services LLC. acquired a new stake in PulteGroup during the fourth quarter valued at $33,000. High Point Wealth Management LLC acquired a new stake in PulteGroup during the fourth quarter valued at $38,000. Beacon Financial Strategies CORP acquired a new stake in PulteGroup during the fourth quarter valued at $40,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PHM. Truist Financial dropped their target price on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Citigroup lifted their target price on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Evercore lifted their target price on shares of PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, UBS Group lifted their target price 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. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.71.

Insider Transactions at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lila Snyder sold 3,339 shares of the business’s 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 in the company, 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. Insiders own 0.75% of the company’s stock.

PulteGroup Stock Up 1.5%

Shares of NYSE PHM opened at $124.74 on Wednesday. The company’s 50-day simple moving average is $119.86 and its 200-day simple moving average is $124.17. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. PulteGroup, Inc. has a 52-week low of $98.27 and a 52-week high of $144.49.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.57 earnings per share. Equities analysts predict that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors 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 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s payout ratio is presently 10.06%.

PulteGroup declared that its board has authorized a share repurchase program on Thursday, April 23rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.