BI Asset Management Fondsmaeglerselskab A S Lowers Position in PulteGroup, Inc. $PHM

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 59.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,085 shares of the construction company’s stock after selling 4,591 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PulteGroup were worth $363,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in PulteGroup by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock valued at $67,387,000 after buying an additional 13,259 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of PulteGroup by 166.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock worth $1,964,000 after acquiring an additional 10,467 shares in the last quarter. Dorato Capital Management bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $2,625,000. National Pension Service boosted its position in shares of PulteGroup by 3.8% during the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock valued at $59,503,000 after acquiring an additional 18,455 shares during the last quarter. Finally, EFG Asset Management Americas Corp. grew its holdings in shares of PulteGroup by 351.9% in the third quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock valued at $6,177,000 after purchasing an additional 36,407 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 0.1%

Shares of NYSE:PHM opened at $135.79 on Friday. PulteGroup, Inc. has a 1 year low of $102.17 and a 1 year high of $144.49. The business has a 50 day simple moving average of $121.00 and a two-hundred day simple moving average of $124.21. The firm has a market capitalization of $25.87 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.

PulteGroup (NYSE:PHM) last issued its quarterly 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). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities analysts predict that PulteGroup, Inc. will post 9.95 EPS for the current year.

PulteGroup Dividend Announcement

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

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PHM shares. Weiss Ratings cut shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Wells Fargo & Company lifted their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Evercore boosted their target price on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. UBS Group upped their target price 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, Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $140.71.

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Lila Snyder sold 3,339 shares of PulteGroup 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 sale, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by insiders.

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.