O Shaughnessy Asset Management LLC Buys 34,573 Shares of PulteGroup, Inc. $PHM

O Shaughnessy Asset Management LLC raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 297,136 shares of the construction company’s stock after acquiring an additional 34,573 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.15% of PulteGroup worth $34,842,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. Rachor Investment Advisory Services LLC bought a new position in shares of PulteGroup during the fourth quarter valued at $31,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup during the fourth quarter valued at $33,000. High Point Wealth Management LLC bought a new position in shares of PulteGroup during the fourth quarter valued at $38,000. Beacon Financial Strategies CORP bought a new position in shares of PulteGroup during the fourth quarter valued at $40,000. Finally, Elyxium Wealth LLC bought a new position in shares of PulteGroup during the fourth quarter valued at $41,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

PulteGroup stock opened at $118.58 on Monday. The stock has a 50-day simple moving average of $119.08 and a 200 day simple moving average of $124.03. 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 12-month low of $98.27 and a 12-month high of $144.49. 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 (NYSE:PHM) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts anticipate that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s payout ratio is currently 10.06%.

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

Analyst Upgrades and Downgrades

PHM has been the subject of a number of analyst reports. UBS Group lifted their price objective on PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a report on Friday, April 24th. Truist Financial cut their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, April 16th. The Goldman Sachs Group lifted their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Wells Fargo & Company lifted their price objective on PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.71.

Insider Transactions at PulteGroup

In related news, 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 completion of the transaction, the director directly owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the transaction, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. 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.