Hsbc Holdings PLC Sells 14,297 Shares of PulteGroup, Inc. $PHM

Hsbc Holdings PLC decreased its position in PulteGroup, Inc. (NYSE:PHM) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 662,117 shares of the construction company’s stock after selling 14,297 shares during the period. Hsbc Holdings PLC owned 0.34% of PulteGroup worth $77,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in PulteGroup by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock valued at $67,387,000 after buying an additional 13,259 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of PulteGroup by 166.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock valued at $1,964,000 after acquiring an additional 10,467 shares during the last quarter. Dorato Capital Management bought a new stake in shares of PulteGroup during the 4th quarter valued at $2,625,000. EFG Asset Management Americas Corp. lifted its stake in shares of PulteGroup by 351.9% in the 3rd quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock valued at $6,177,000 after purchasing an additional 36,407 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of PulteGroup by 43.2% in the 4th quarter. Ritholtz Wealth Management now owns 91,473 shares of the construction company’s stock valued at $10,726,000 after purchasing an additional 27,590 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 stock a “buy” rating in a research note on Friday, April 24th. Wells Fargo & Company raised their target price on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Weiss Ratings lowered PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Barclays lowered their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Finally, The Goldman Sachs Group increased their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Ten 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, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $125.74 on Tuesday. The stock’s fifty day simple moving average is $120.34 and its 200 day simple moving average is $124.12. 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 company has a market capitalization of $23.95 billion, a PE ratio of 12.16, a PEG ratio of 1.61 and a beta of 1.20. PulteGroup, Inc. has a 12 month low of $100.70 and a 12 month high of $144.49.

PulteGroup (NYSE:PHM) last announced its quarterly 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). The business had revenue of $3.41 billion during 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%.The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 earnings per share. On average, research analysts predict that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Dividend Announcement

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

PulteGroup declared that its board has initiated a share buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other PulteGroup 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 sale, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by corporate insiders.

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.