PulteGroup, Inc. $PHM Shares Sold by Danske Bank A S

Danske Bank A S reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,791 shares of the construction company’s stock after selling 44,874 shares during the quarter. Danske Bank A S’s holdings in PulteGroup were worth $17,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC acquired a new stake in PulteGroup during the fourth quarter worth about $31,000. High Point Wealth Management LLC acquired a new stake in PulteGroup during the fourth quarter worth about $38,000. Beacon Financial Strategies CORP acquired a new stake in PulteGroup during the fourth quarter worth about $40,000. True Wealth Design LLC increased its stake in PulteGroup by 229.6% during the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after acquiring an additional 248 shares during the last quarter. Finally, Fulcrum Asset Management LLP acquired a new stake in PulteGroup during the third quarter worth about $47,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.2%

Shares of PHM opened at $119.44 on Monday. The company has a market capitalization of $22.75 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.51 and a beta of 1.23. PulteGroup, Inc. has a one year low of $95.20 and a one year high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50-day moving average price of $124.18 and a 200 day moving average price of $124.71.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results 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 business had revenue of $3.41 billion during 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 company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 EPS. Sell-side analysts forecast that PulteGroup, Inc. will post 10.02 EPS for the current fiscal year.

PulteGroup declared that its board has approved a share repurchase program on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership 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 $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. PulteGroup’s dividend payout ratio is currently 10.06%.

Insider Transactions at PulteGroup

In related news, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the completion of the transaction, the vice president owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. This represents a 31.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This represents a 26.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 149,952 shares of company stock valued at $20,162,165 in the last three months. 0.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Oppenheimer restated an “outperform” rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Weiss Ratings lowered PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Raymond James Financial restated an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research note on Wednesday, February 4th. UBS Group upped 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. Finally, Barclays dropped 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. Ten 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, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target 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.