Fideuram Intesa Sanpaolo Private Banking S.P.A. Has $10.84 Million Position in PulteGroup, Inc. $PHM

Fideuram Intesa Sanpaolo Private Banking S.P.A. decreased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 32.3% in the first quarter, Holdings Channel.com reports. The firm owned 92,146 shares of the construction company’s stock after selling 43,874 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in PulteGroup were worth $10,837,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC bought a new stake in PulteGroup in the fourth quarter worth $31,000. HHM Wealth Advisors LLC grew its holdings in PulteGroup by 158.5% in the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after buying an additional 168 shares during the last quarter. DV Equities LLC acquired a new stake in shares of PulteGroup in the fourth quarter worth $32,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup during the 4th quarter worth about $33,000. Finally, High Point Wealth Management LLC bought a new position in PulteGroup during the fourth quarter valued at about $38,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $133.79 on Friday. The business has a 50-day moving average price of $122.11 and a two-hundred day moving average price of $124.56. PulteGroup, Inc. has a 1-year low of $107.07 and a 1-year high of $144.49. The stock has a market capitalization of $25.49 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.69 and a beta of 1.18. 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 (NYSE:PHM) last released its earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the firm posted $2.57 EPS. PulteGroup’s revenue was down 12.4% on a year-over-year basis. Equities analysts predict that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

PulteGroup declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

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

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction on 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 of the company’s stock, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the topic of several analyst reports. Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Bank of America dropped their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 20th. Wells Fargo & Company upped their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Finally, Citigroup raised their price objective 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. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average 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.