Lombard Odier Asset Management Europe Ltd Purchases New Position in PulteGroup, Inc. $PHM

Lombard Odier Asset Management Europe Ltd acquired a new position in PulteGroup, Inc. (NYSE:PHM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 22,097 shares of the construction company’s stock, valued at approximately $2,599,000.

Other large investors have also bought and sold shares of the company. National Pension Service increased its stake in shares of PulteGroup by 3.8% in the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock worth $59,503,000 after acquiring an additional 18,455 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of PulteGroup by 166.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock valued at $1,964,000 after purchasing an additional 10,467 shares during the last quarter. Bayhunt Capital LLC bought a new stake in shares of PulteGroup in the 4th quarter worth approximately $4,183,000. Lecap Asset Management Ltd. purchased a new stake in shares of PulteGroup in the 4th quarter worth approximately $2,183,000. Finally, Ritholtz Wealth Management increased its position in PulteGroup by 43.2% during the 4th quarter. Ritholtz Wealth Management now owns 91,473 shares of the construction company’s stock valued at $10,726,000 after buying an additional 27,590 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on PHM shares. UBS Group reissued a “buy” rating and issued a $166.00 target price on shares of PulteGroup in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Barclays increased their price objective on PulteGroup from $123.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Seaport Research Partners reissued a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Finally, Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $143.14.

PulteGroup Trading Up 0.2%

Shares of NYSE:PHM opened at $126.71 on Monday. The stock has a 50 day moving average of $125.75 and a 200 day moving average of $125.47. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The company has a market cap of $23.75 billion, a PE ratio of 12.94, a price-to-earnings-growth 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 earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. PulteGroup’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.03 EPS. As a group, equities research analysts expect that PulteGroup, Inc. will post 10.08 EPS for the current year.

PulteGroup declared that its board has authorized a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the transaction, the chief operating officer 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 document filed with the SEC, which is available at the SEC website. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director owned 3,540 shares in the company, valued at $414,817.20. This represents 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 owned by corporate insiders.

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.