PulteGroup, Inc. $PHM Shares Sold by Swedbank AB

Swedbank AB cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 562,594 shares of the construction company’s stock after selling 8,536 shares during the quarter. Swedbank AB’s holdings in PulteGroup were worth $66,167,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PHM. Golden State Wealth Management LLC boosted its position in PulteGroup by 18.3% during the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after purchasing an additional 75 shares during the period. Evergreen Capital Management LLC lifted its stake in PulteGroup by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after buying an additional 78 shares during the last quarter. Stephens Inc. AR lifted its stake in PulteGroup by 3.5% in the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after buying an additional 80 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of PulteGroup by 3.6% during the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock valued at $313,000 after acquiring an additional 92 shares during the period. Finally, Opal Wealth Advisors LLC grew its position in shares of PulteGroup by 4.8% during the fourth quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock worth $254,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In other news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Stock Performance

PHM stock opened at $129.76 on Wednesday. The company has a 50-day simple moving average of $122.29 and a 200 day simple moving average of $124.71. The company has a market capitalization of $24.72 billion, a P/E ratio of 12.55, a PEG ratio of 1.67 and a beta of 1.18. 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, Inc. has a fifty-two week low of $107.16 and a fifty-two week high of $144.49.

PulteGroup (NYSE:PHM) last released its 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 company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the business posted $2.57 EPS. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. Sell-side analysts predict that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share 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 repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th were issued 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 payout ratio is presently 10.06%.

Analyst Ratings Changes

PHM has been the topic of a number of analyst reports. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings cut shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Wells Fargo & Company raised their price target on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group lifted their price target on PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Seaport Research Partners reissued a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $141.43.

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.