20,662 Shares in PulteGroup, Inc. $PHM Acquired by OP Asset Management Ltd

OP Asset Management Ltd bought a new position in PulteGroup, Inc. (NYSE:PHM) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,662 shares of the construction company’s stock, valued at approximately $2,430,000.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of PulteGroup by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock valued at $67,387,000 after purchasing an additional 13,259 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of PulteGroup by 166.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock worth $1,964,000 after purchasing an additional 10,467 shares during the last quarter. Dorato Capital Management bought a new stake in shares of PulteGroup in the 4th quarter worth approximately $2,625,000. National Pension Service raised its holdings in shares of PulteGroup by 3.8% in the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock worth $59,503,000 after purchasing an additional 18,455 shares in the last quarter. Finally, EFG Asset Management Americas Corp. lifted its stake in PulteGroup by 351.9% during the third 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 last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the 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 in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lila Snyder sold 3,339 shares of PulteGroup 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 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. Insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

Shares of PHM opened at $137.74 on Friday. The business’s 50-day moving average is $121.34 and its 200-day moving average is $124.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $26.24 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 1.75 and a beta of 1.20. PulteGroup, Inc. has a fifty-two week low of $104.04 and a fifty-two week high of $144.49.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 earnings per share. Equities research analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup announced that its board has authorized 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 repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

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

Analyst Ratings Changes

PHM has been the topic of several recent research reports. Truist Financial decreased their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Evercore upped their target price on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a report on Friday, April 24th. UBS Group lifted their price target on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Citigroup upped their price objective on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, The Goldman Sachs Group raised their target price on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.71.

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.