Livforsakringsbolaget Skandia Omsesidigt Raises Stock Position in PulteGroup, Inc. $PHM

Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 7,167.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,252 shares of the construction company’s stock after purchasing an additional 96,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.05% of PulteGroup worth $11,542,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PHM. Rachor Investment Advisory Services LLC acquired a new stake in PulteGroup during the 4th quarter valued at $31,000. Lloyd Advisory Services LLC. acquired a new stake in PulteGroup during the 4th quarter valued at $33,000. High Point Wealth Management LLC acquired a new stake in PulteGroup during the 4th quarter valued at $38,000. Beacon Financial Strategies CORP acquired a new stake in PulteGroup during the 4th quarter valued at $40,000. Finally, Elyxium Wealth LLC acquired a new stake in PulteGroup during the 4th quarter valued at $41,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 directly owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the transaction, the director directly owned 3,540 shares of the company’s stock, valued at $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. 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 stock opened at $118.34 on Friday. The firm has a market cap of $22.54 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. PulteGroup, Inc. has a 1-year low of $98.27 and a 1-year high of $144.49. The firm has a fifty day moving average of $119.07 and a two-hundred day moving average of $124.00.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion for 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%.PulteGroup’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.57 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup declared that its board has approved 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 repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a report on Friday, April 24th. Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Truist Financial lowered their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock 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.