Bank of New York Mellon Corp Has $184.12 Million Stock Holdings in PulteGroup, Inc. $PHM

Bank of New York Mellon Corp boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,570,139 shares of the construction company’s stock after buying an additional 116,736 shares during the period. Bank of New York Mellon Corp owned approximately 0.82% of PulteGroup worth $184,115,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PHM. Rachor Investment Advisory Services LLC purchased a new stake in PulteGroup during the fourth quarter worth about $31,000. Lloyd Advisory Services LLC. purchased a new stake in PulteGroup during the fourth quarter worth about $33,000. High Point Wealth Management LLC purchased a new stake in PulteGroup during the fourth quarter worth about $38,000. Beacon Financial Strategies CORP purchased a new stake in PulteGroup during the fourth quarter worth about $40,000. Finally, Elyxium Wealth LLC purchased a new stake in PulteGroup during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PHM. Wells Fargo & Company raised their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Citigroup raised their price objective on shares of PulteGroup from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. UBS Group raised their price objective on shares of PulteGroup from $159.00 to $162.00 and gave the stock 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 research report on Monday, April 27th. Finally, The Goldman Sachs Group increased their target price on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Price Performance

PHM stock opened at $118.58 on Friday. The firm has a 50 day moving average of $119.08 and a 200-day moving average of $123.96. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12 month low of $98.27 and a 12 month high of $144.49. The firm has a market capitalization of $22.59 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 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 firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business posted $2.57 earnings per share. PulteGroup’s revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

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

PulteGroup announced that its Board of Directors has authorized a share buyback program on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup 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 sale, the director 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 SEC filing for this sale provides additional information. 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.