16,195 Shares in PulteGroup, Inc. $PHM Acquired by ING Groep NV

ING Groep NV purchased a new position in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,195 shares of the construction company’s stock, valued at approximately $1,899,000.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its holdings 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 worth $67,387,000 after purchasing an additional 13,259 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. Concurrent Investment Advisors LLC lifted its holdings 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. EFG Asset Management Americas Corp. lifted its holdings 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 worth $6,177,000 after purchasing an additional 36,407 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings 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 worth $49,050,000 after purchasing an additional 51,506 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays dropped their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Seaport Research Partners reiterated a “sell” rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Finally, Wells Fargo & Company lifted their price target on PulteGroup from $132.00 to $140.00 and gave the company an “overweight” 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 stock. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $140.71.

PulteGroup Price Performance

NYSE PHM opened at $122.86 on Wednesday. PulteGroup, Inc. has a twelve month low of $98.27 and a twelve month 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 market capitalization of $23.40 billion, a PE ratio of 11.88, a P/E/G ratio of 1.49 and a beta of 1.20. The stock has a 50-day simple moving average of $119.26 and a 200 day simple moving average of $124.13.

PulteGroup (NYSE:PHM) last posted 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 company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. Research analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio is currently 10.06%.

PulteGroup declared that its Board of Directors has approved a share buyback plan on Thursday, April 23rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at PulteGroup

In related news, Director Lila Snyder sold 3,339 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the sale, the director directly owned 3,540 shares in the company, valued at $414,817.20. This represents a 48.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

About PulteGroup

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.