Los Angeles Capital Management LLC Decreases Position in PulteGroup, Inc. $PHM

Los Angeles Capital Management LLC lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 41.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,764 shares of the construction company’s stock after selling 44,692 shares during the period. Los Angeles Capital Management LLC’s holdings in PulteGroup were worth $7,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of PulteGroup by 2.4% in the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock valued at $67,387,000 after acquiring an additional 13,259 shares during the period. Dorato Capital Management acquired a new position in shares of PulteGroup in the 4th quarter valued at $2,625,000. Concurrent Investment Advisors LLC increased its position 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 valued at $1,964,000 after acquiring an additional 10,467 shares during the period. EFG Asset Management Americas Corp. increased its position 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 acquiring an additional 36,407 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of PulteGroup by 16.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock valued at $49,050,000 after acquiring an additional 51,506 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.5%

Shares of NYSE:PHM opened at $117.76 on Tuesday. PulteGroup, Inc. has a 12-month low of $98.27 and a 12-month high of $144.49. The company has a market capitalization of $22.43 billion, a PE ratio of 11.39, a PEG ratio of 1.50 and a beta of 1.20. The business has a 50 day moving average of $119.09 and a two-hundred day moving average of $124.06. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

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 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 company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. The company’s revenue was down 12.4% compared to the same quarter last year. As a group, analysts forecast that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders 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 payout ratio is presently 10.06%.

Insider Buying and Selling

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 owned 3,540 shares in the company, valued at $414,817.20. The trade was a 48.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PHM. Citigroup upped their target price on PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. The Goldman Sachs Group upped their target price on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Bank of America cut their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Truist Financial cut their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

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.