Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in PulteGroup, Inc. $PHM

Sumitomo Mitsui Trust Group Inc. cut its position in PulteGroup, Inc. (NYSE:PHM) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 485,428 shares of the construction company’s stock after selling 24,736 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of PulteGroup worth $57,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PHM. Rachor Investment Advisory Services LLC purchased a new position in PulteGroup in the 4th quarter valued at $31,000. DV Equities LLC acquired a new stake in PulteGroup during the 4th quarter worth $32,000. HHM Wealth Advisors LLC grew its holdings in shares of PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new stake in shares of PulteGroup during the fourth quarter worth $33,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $38,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Up 0.9%

Shares of PHM traded up $1.11 during midday trading on Friday, reaching $124.83. The company had a trading volume of 1,516,575 shares, compared to its average volume of 1,747,614. PulteGroup, Inc. has a 1-year low of $107.16 and a 1-year high of $144.49. 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 50 day simple moving average of $122.24 and a 200-day simple moving average of $124.75. The stock has a market cap of $23.78 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share 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 analyst estimates of $3.40 billion. During the same period in the previous year, the firm posted $2.57 EPS. The company’s revenue was down 12.4% compared to the same quarter last year. Research analysts forecast that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders 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 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s payout ratio is 10.06%.

PulteGroup announced that its board has initiated a stock repurchase program on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PHM shares. Evercore raised their price target on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Wells Fargo & Company upped their price objective on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Weiss Ratings downgraded shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. UBS Group raised 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. Finally, Seaport Research Partners reissued a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a research note 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.43.

Insider Activity

In other news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup 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 sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.75% of the company’s stock.

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.