Keybank National Association OH Invests $646,000 in PulteGroup, Inc. $PHM

Keybank National Association OH bought a new position in PulteGroup, Inc. (NYSE:PHM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,496 shares of the construction company’s stock, valued at approximately $646,000.

Other institutional investors have also added to or reduced their stakes in the company. USS Investment Management Ltd increased its position in shares of PulteGroup by 13.9% in the first quarter. USS Investment Management Ltd now owns 41,555 shares of the construction company’s stock valued at $4,889,000 after acquiring an additional 5,057 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in shares of PulteGroup by 185.5% during the first quarter. Premier Path Wealth Partners LLC now owns 5,690 shares of the construction company’s stock worth $669,000 after purchasing an additional 3,697 shares during the period. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of PulteGroup by 4.0% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,401 shares of the construction company’s stock worth $870,000 after purchasing an additional 288 shares during the last quarter. Simmons Bank bought a new stake in shares of PulteGroup in the first quarter worth about $1,936,000. Finally, Lansforsakringar Fondforvaltning AB publ increased its holdings in PulteGroup by 0.8% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 45,354 shares of the construction company’s stock valued at $5,334,000 after purchasing an additional 361 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In other news, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. This trade represents a 48.54% decrease in their position. 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 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 transaction, the chief operating officer directly 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. Insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

Shares of PHM stock opened at $123.09 on Thursday. The business’s fifty day moving average is $122.18 and its 200 day moving average is $124.72. 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 stock has a market cap of $23.45 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.66 and a beta of 1.18. PulteGroup, Inc. has a twelve month low of $107.16 and a twelve month high of $144.49.

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 analysts’ consensus estimates of $1.80 by ($0.01). The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.PulteGroup’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.57 EPS. Research analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup announced that its board has initiated a stock repurchase plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th were issued a $0.26 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

Analyst Ratings Changes

PHM has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group upped their target price on PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a report on Friday, April 24th. The Goldman Sachs Group raised their price target on PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Seaport Research Partners reiterated a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Finally, Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a research 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.43.

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.