Intech Investment Management LLC Has $1.19 Million Position in PulteGroup, Inc. $PHM

Intech Investment Management LLC lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 87.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,185 shares of the construction company’s stock after buying an additional 4,763 shares during the period. Intech Investment Management LLC’s holdings in PulteGroup were worth $1,194,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Foundations Investment Advisors LLC lifted its stake in shares of PulteGroup by 29.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 3,069 shares of the construction company’s stock valued at $360,000 after buying an additional 700 shares during the period. Baker Avenue Asset Management LP lifted its stake in shares of PulteGroup by 15.9% in the fourth quarter. Baker Avenue Asset Management LP now owns 7,430 shares of the construction company’s stock valued at $871,000 after buying an additional 1,020 shares during the period. IFG Advisory LLC lifted its stake in shares of PulteGroup by 2.5% in the fourth quarter. IFG Advisory LLC now owns 29,458 shares of the construction company’s stock valued at $3,454,000 after buying an additional 725 shares during the period. Waystone Advisors LLC bought a new stake in shares of PulteGroup in the fourth quarter valued at about $222,000. Finally, Integrity Alliance LLC. lifted its stake in shares of PulteGroup by 13.4% in the fourth quarter. Integrity Alliance LLC. now owns 7,989 shares of the construction company’s stock valued at $937,000 after buying an additional 944 shares during the period. Institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In related news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $3,372,000. This trade represents a 20.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the firm’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 sale, the director directly owned 3,540 shares of the company’s stock, valued at $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of several research reports. UBS Group increased their target price on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Wells Fargo & Company increased their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Evercore increased their target price on shares of PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Truist Financial reduced their target price on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.71.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $118.58 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $22.59 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.50 and a beta of 1.20. PulteGroup, Inc. has a 1-year low of $98.27 and a 1-year high of $144.49. The firm’s 50-day moving average price is $119.08 and its two-hundred day moving average price is $123.96.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data 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). The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.PulteGroup’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 earnings per share. On average, equities analysts predict that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup announced that its board has authorized a share buyback plan on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

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.