PulteGroup, Inc. $PHM Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its stake in PulteGroup, Inc. (NYSE:PHM) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,987 shares of the construction company’s stock after selling 6,879 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in PulteGroup were worth $4,103,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Rachor Investment Advisory Services LLC purchased a new position in PulteGroup during the fourth quarter valued at $31,000. DV Equities LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth about $32,000. Lloyd Advisory Services LLC. acquired a new position in shares of PulteGroup during the 4th quarter worth about $33,000. High Point Wealth Management LLC acquired a new position in shares of PulteGroup during the 4th quarter worth about $38,000. Finally, Beacon Financial Strategies CORP purchased a new position in PulteGroup in the 4th quarter valued at about $40,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

NYSE:PHM opened at $137.74 on Friday. The company’s 50-day moving average is $121.34 and its two-hundred day moving average is $124.30. PulteGroup, Inc. has a 1-year low of $104.04 and a 1-year high of $144.49. 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 firm has a market capitalization of $26.24 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.75 and a beta of 1.20.

PulteGroup (NYSE:PHM) last released 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 firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the firm posted $2.57 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. Analysts forecast that PulteGroup, Inc. will post 9.95 EPS for the current year.

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

PulteGroup Announces Dividend

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

Insider Buying and Selling at PulteGroup

In related news, 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 transaction of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the director directly owned 3,540 shares in the company, valued at $414,817.20. This represents a 48.54% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PHM shares. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. UBS Group lifted their target price 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. Wells Fargo & Company upped their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Barclays reduced their target price on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Finally, Truist Financial decreased their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Ten research 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 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.