Dimensional Fund Advisors LP Buys 26,790 Shares of PulteGroup, Inc. $PHM

Dimensional Fund Advisors LP increased its position in PulteGroup, Inc. (NYSE:PHM) by 0.9% in the 1st quarter, HoldingsChannel reports. The fund owned 3,146,857 shares of the construction company’s stock after buying an additional 26,790 shares during the quarter. Dimensional Fund Advisors LP’s holdings in PulteGroup were worth $370,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its stake in shares of PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. NFSG Corp purchased a new stake in PulteGroup in the 1st quarter worth $29,000. Rachor Investment Advisory Services LLC purchased a new position in shares of PulteGroup in the fourth quarter valued at about $31,000. HHM Wealth Advisors LLC boosted its stake in shares of PulteGroup by 158.5% in the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after acquiring an additional 168 shares during the period. Finally, DV Equities LLC bought a new position in shares of PulteGroup in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PHM shares. Wells Fargo & Company upped their price target on PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Citigroup increased their price objective on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, The Goldman Sachs Group raised their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.21.

Insider Buying and Selling

In related news, COO Matthew William Koart sold 7,457 shares of the firm’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 sale, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup 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 $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by insiders.

PulteGroup Stock Up 0.9%

Shares of NYSE PHM opened at $124.24 on Wednesday. The firm’s 50-day moving average price is $123.27 and its 200-day moving average price is $125.12. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $23.67 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.57 and a beta of 1.18. PulteGroup, Inc. has a 12-month low of $108.49 and a 12-month high of $144.49.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS 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 company 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 business posted $2.57 EPS. The company’s revenue was down 12.4% on a year-over-year basis. On average, equities research analysts anticipate 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. Stockholders of record on Tuesday, June 16th were issued a $0.26 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s payout ratio is 10.06%.

PulteGroup declared that its board has approved a share repurchase program on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.