PulteGroup, Inc. $PHM Shares Bought by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc raised its holdings in PulteGroup, Inc. (NYSE:PHM) by 33.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,789 shares of the construction company’s stock after purchasing an additional 53,288 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in PulteGroup were worth $25,144,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of PulteGroup by 18.3% during the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock worth $57,000 after purchasing an additional 75 shares during the period. Evergreen Capital Management LLC raised its holdings in PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after buying an additional 78 shares during the period. Stephens Inc. AR raised its holdings in PulteGroup by 3.5% in the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after buying an additional 80 shares during the period. Perigon Wealth Management LLC lifted its position in PulteGroup by 3.6% in the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock valued at $313,000 after buying an additional 92 shares during the last quarter. Finally, Opal Wealth Advisors LLC lifted its position in PulteGroup by 4.8% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock valued at $254,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In related news, 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 value of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the company’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 in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

PulteGroup Price Performance

PHM opened at $127.03 on Friday. The stock’s 50-day moving average price is $120.27 and its 200 day moving average price is $124.15. PulteGroup, Inc. has a 12-month low of $99.45 and a 12-month high of $144.49. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.61 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.

PulteGroup (NYSE:PHM) last released its earnings results 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 firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.57 earnings per share. As a group, sell-side analysts expect that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup announced that its board has authorized a share repurchase program on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is presently 10.06%.

Wall Street Analyst Weigh In

PHM has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Evercore upped their price objective on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. UBS Group lifted their target price on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Bank of America dropped their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 20th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average 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.