Candriam S.C.A. Decreases Stake in PulteGroup, Inc. $PHM

Candriam S.C.A. reduced its position in PulteGroup, Inc. (NYSE:PHM) by 35.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 65,459 shares of the construction company’s stock after selling 36,242 shares during the period. Candriam S.C.A.’s holdings in PulteGroup were worth $7,699,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Focus Partners Wealth raised its position in shares of PulteGroup by 20.5% in the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after purchasing an additional 2,128 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in PulteGroup by 197.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after buying an additional 804 shares during the period. Guggenheim Capital LLC grew its stake in PulteGroup by 12.9% in the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after buying an additional 975 shares in the last quarter. Baird Financial Group Inc. raised its holdings in PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after acquiring an additional 2,164 shares during the period. Finally, Cerity Partners LLC raised its holdings in PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after acquiring an additional 6,240 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore raised their price target on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. The Goldman Sachs Group increased their price objective on PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Wells Fargo & Company raised their target price on PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Barclays reduced their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $141.43.

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 completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $124.83 on Monday. The firm has a market capitalization 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. 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, Inc. has a 12 month low of $107.16 and a 12 month high of $144.49. The business’s 50-day moving average price is $122.24 and its 200-day moving average price is $124.79.

PulteGroup (NYSE:PHM) last issued its earnings results 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). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the company earned $2.57 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. Sell-side analysts forecast that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

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

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.