Milford Funds Ltd. Takes Position in PulteGroup, Inc. $PHM

Milford Funds Ltd. bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, HoldingsChannel.com reports. The firm bought 583,141 shares of the construction company’s stock, valued at approximately $68,379,000. PulteGroup comprises approximately 1.3% of Milford Funds Ltd.’s portfolio, making the stock its 27th largest holding.

Several other institutional investors have also made changes to their positions in PHM. Focus Partners Wealth boosted its position in shares of PulteGroup by 20.5% during the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after acquiring an additional 2,128 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of PulteGroup by 197.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after acquiring an additional 804 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of PulteGroup by 12.9% during the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after acquiring an additional 975 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after acquiring an additional 6,240 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the sale, the chief operating officer directly owned 28,100 shares of the company’s stock, 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. Insiders own 0.75% of the company’s stock.

PulteGroup Trading Down 0.7%

Shares of NYSE PHM opened at $123.13 on Friday. PulteGroup, Inc. has a 1-year low of $98.27 and a 1-year high of $144.49. The company has a market cap of $23.45 billion, a PE ratio of 11.91, a P/E/G ratio of 1.57 and a beta of 1.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $119.61 and a two-hundred day moving average of $124.18.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. As a group, equities analysts expect that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

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

PulteGroup Announces Dividend

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 paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s payout ratio is 10.06%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PHM shares. The Goldman Sachs Group boosted their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Citigroup boosted their price target on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. UBS Group boosted their price target on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Truist Financial reduced their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

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.