Hsbc Holdings PLC Decreases Position in PulteGroup, Inc. $PHM

Hsbc Holdings PLC decreased its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 662,117 shares of the construction company’s stock after selling 14,297 shares during the quarter. Hsbc Holdings PLC’s holdings in PulteGroup were worth $77,679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup during the 4th quarter valued at about $31,000. DV Equities LLC acquired a new stake in PulteGroup in the fourth quarter worth about $32,000. Lloyd Advisory Services LLC. purchased a new stake in shares of PulteGroup during the fourth quarter worth about $33,000. High Point Wealth Management LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth about $38,000. Finally, Beacon Financial Strategies CORP purchased a new stake in shares of PulteGroup during the fourth quarter worth about $40,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PHM. Wells Fargo & Company increased their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Barclays dropped their target price on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. UBS Group raised their price target on shares of PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Evercore lifted their price objective on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $140.71.

Insider Activity at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $391,264.02. Following the transaction, the director directly owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

PulteGroup Stock Up 0.1%

Shares of PHM stock opened at $133.79 on Friday. PulteGroup, Inc. has a fifty-two week low of $107.07 and a fifty-two week high of $144.49. The firm has a market capitalization of $25.49 billion, a PE ratio of 12.94, a P/E/G ratio of 1.70 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50-day simple moving average is $122.23 and its 200-day simple moving average is $124.62.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the firm earned $2.57 EPS. Equities analysts expect that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 16th. PulteGroup’s payout ratio is presently 10.06%.

PulteGroup announced that its Board of Directors has authorized a stock 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 repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.