Systematic Financial Management LP Sells 13,614 Shares of PulteGroup, Inc. $PHM

Systematic Financial Management LP reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 118,542 shares of the construction company’s stock after selling 13,614 shares during the quarter. Systematic Financial Management LP’s holdings in PulteGroup were worth $13,900,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PHM. Focus Partners Wealth raised its holdings in PulteGroup by 20.5% in the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after purchasing an additional 2,128 shares during the period. EverSource Wealth Advisors LLC raised its holdings in PulteGroup by 197.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after purchasing an additional 804 shares during the period. Guggenheim Capital LLC raised its holdings in PulteGroup by 12.9% in the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after purchasing an additional 975 shares during the period. Baird Financial Group Inc. raised its holdings in PulteGroup by 8.0% in the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after purchasing an additional 2,164 shares during the period. Finally, Cerity Partners LLC raised its holdings in PulteGroup by 17.6% in the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 6,240 shares during the period. 89.90% of the stock is owned by institutional investors.

Insider Activity

In other 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the sale, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

NYSE:PHM opened at $116.48 on Monday. PulteGroup, Inc. has a 52 week low of $95.20 and a 52 week high of $144.49. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $119.25 and its two-hundred day simple moving average is $124.11. The stock has a market cap of $22.19 billion, a PE ratio of 11.26, a P/E/G ratio of 1.48 and a beta of 1.23.

PulteGroup (NYSE:PHM) last issued its 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). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the firm posted $2.57 earnings per share. The company’s revenue for the quarter 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 fiscal year.

PulteGroup announced that its Board of Directors has initiated a stock buyback program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s payout ratio is 10.06%.

Wall Street Analyst Weigh In

PHM has been the topic of a number of recent research reports. Evercore raised their target price on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Barclays decreased their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Wells Fargo & Company raised 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. UBS Group raised their price target on PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. decreased their price target on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.