MUFG Securities EMEA plc Buys 23,058 Shares of PulteGroup, Inc. $PHM

MUFG Securities EMEA plc lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 610.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,834 shares of the construction company’s stock after buying an additional 23,058 shares during the quarter. MUFG Securities EMEA plc’s holdings in PulteGroup were worth $3,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Rachor Investment Advisory Services LLC bought a new stake in PulteGroup during the 4th quarter valued at approximately $31,000. Lloyd Advisory Services LLC. bought a new stake in PulteGroup during the 4th quarter valued at approximately $33,000. High Point Wealth Management LLC bought a new stake in PulteGroup during the 4th quarter valued at approximately $38,000. Beacon Financial Strategies CORP bought a new stake in PulteGroup during the 4th quarter valued at approximately $40,000. Finally, Elyxium Wealth LLC bought a new stake in PulteGroup during the 4th quarter valued at approximately $41,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

PHM opened at $117.77 on Tuesday. PulteGroup, Inc. has a 52-week low of $95.20 and a 52-week high of $144.49. The stock has a market cap of $22.43 billion, a P/E ratio of 11.39, a PEG ratio of 1.50 and a beta of 1.23. The business has a fifty day moving average of $119.03 and a 200 day moving average of $124.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued 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). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the company posted $2.57 earnings per share. PulteGroup’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Dividend Announcement

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

PulteGroup declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 23rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PHM shares. Raymond James Financial reissued an “outperform” rating and set a $145.00 target price on shares of PulteGroup in a research note on Wednesday, February 4th. Citigroup lifted their target price on PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Truist Financial reduced their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Bank of America reduced their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, UBS Group lifted their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

Insider Buying and Selling at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were 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 represents a 48.54% 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 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.