BI Asset Management Fondsmaeglerselskab A S Sells 4,591 Shares of PulteGroup, Inc. $PHM

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 59.8% during the first quarter, HoldingsChannel reports. The firm owned 3,085 shares of the construction company’s stock after selling 4,591 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in PulteGroup were worth $363,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. raised its stake in PulteGroup by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after buying an additional 655,033 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in PulteGroup by 126.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after acquiring an additional 2,392,580 shares in the last quarter. First Trust Advisors LP boosted its position in PulteGroup by 10.4% during the 4th quarter. First Trust Advisors LP now owns 4,000,920 shares of the construction company’s stock valued at $469,148,000 after acquiring an additional 377,003 shares in the last quarter. Norges Bank bought a new stake in PulteGroup during the 4th quarter valued at $466,653,000. Finally, Invesco Ltd. increased its holdings in shares of PulteGroup by 5.8% in the 4th quarter. Invesco Ltd. now owns 2,257,211 shares of the construction company’s stock valued at $264,681,000 after acquiring an additional 123,793 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the company’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 in the company, valued at approximately $414,817.20. This represents a 48.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $894,840.00. Following the completion of the transaction, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $135.79 on Friday. PulteGroup, Inc. has a fifty-two week low of $102.17 and a fifty-two week high of $144.49. The company has a market cap of $25.87 billion, a PE ratio of 13.13, a P/E/G ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50-day simple moving average of $121.00 and a two-hundred day simple moving average of $124.21.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 EPS. As a group, equities analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has approved a share buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in 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 often an indication that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s payout ratio is currently 10.06%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PHM. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Barclays lowered their price target on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. UBS Group boosted their price objective on shares of PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, Seaport Research Partners reissued a “sell” rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.