International Assets Investment Management LLC Sells 5,260 Shares of PulteGroup, Inc. $PHM

International Assets Investment Management LLC trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 95.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257 shares of the construction company’s stock after selling 5,260 shares during the period. International Assets Investment Management LLC’s holdings in PulteGroup were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PHM. Focus Partners Wealth lifted its holdings in PulteGroup by 20.5% in the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after buying an additional 2,128 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of PulteGroup by 197.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after buying an additional 804 shares during the period. Guggenheim Capital LLC increased its stake in shares of PulteGroup by 12.9% during the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after buying an additional 975 shares during the period. Baird Financial Group Inc. raised its holdings in shares of PulteGroup by 8.0% during the second quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of PulteGroup by 17.6% during the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after acquiring an additional 6,240 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on PHM shares. Truist Financial cut their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. 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. Barclays raised their target price on shares of PulteGroup from $112.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday. 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 research note on Friday, April 24th. Finally, Bank of America reduced their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.21.

PulteGroup Price Performance

Shares of NYSE PHM opened at $125.92 on Friday. The company has a 50 day simple moving average of $122.92 and a two-hundred day simple moving average of $124.99. PulteGroup, Inc. has a fifty-two week low of $107.91 and a fifty-two week high of $144.49. The company has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.61 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.

PulteGroup (NYSE:PHM) last issued its quarterly 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 company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business’s revenue for the quarter 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. Analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

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

Insider Buying and Selling at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the stock in a transaction dated Wednesday, May 27th. The shares were 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 of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the firm’s 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 approximately $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.75% of the company’s stock.

PulteGroup Company 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.