PulteGroup, Inc. $PHM Shares Bought by Allstate Corp

Allstate Corp grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 87.4% during the 4th quarter, Holdings Channel reports. The firm owned 13,535 shares of the construction company’s stock after purchasing an additional 6,311 shares during the period. Allstate Corp’s holdings in PulteGroup were worth $1,587,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. AGF Management Ltd. acquired a new position in shares of PulteGroup in the 3rd quarter worth $174,347,000. American Century Companies Inc. grew its holdings in shares of PulteGroup by 120.4% in the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock worth $225,024,000 after acquiring an additional 930,287 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of PulteGroup by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock worth $1,704,513,000 after acquiring an additional 609,640 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of PulteGroup by 13.3% during the third quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock valued at $478,828,000 after buying an additional 424,011 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of PulteGroup during the fourth quarter valued at $40,739,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the 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 transaction, 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 sale 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 dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on PHM. The Goldman Sachs Group lifted their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research note on Tuesday. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. JPMorgan Chase & Co. reduced their price objective on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Finally, Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.71.

PulteGroup Price Performance

PulteGroup stock opened at $118.38 on Friday. The company has a market cap of $22.55 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.50 and a beta of 1.23. The firm’s fifty day moving average is $119.03 and its 200 day moving average is $124.02. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52-week low of $95.20 and a 52-week high of $144.49.

PulteGroup (NYSE:PHM) last released 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 business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company earned $2.57 EPS. PulteGroup’s revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts forecast that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase 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.

PulteGroup Announces Dividend

The firm also recently announced 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 is Tuesday, June 16th. PulteGroup’s dividend payout ratio is presently 10.06%.

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.