University of Texas Texas AM Investment Management Co. Invests $590,000 in PulteGroup, Inc. $PHM

University of Texas Texas AM Investment Management Co. acquired a new position in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,032 shares of the construction company’s stock, valued at approximately $590,000.

A number of other institutional investors have also made changes to their positions in the business. Franklin Resources Inc. raised its position in PulteGroup by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after acquiring an additional 655,033 shares in the last quarter. First Trust Advisors LP raised its position in PulteGroup by 10.4% during the fourth quarter. First Trust Advisors LP now owns 4,000,920 shares of the construction company’s stock worth $469,148,000 after acquiring an additional 377,003 shares in the last quarter. Norges Bank bought a new stake in PulteGroup during the fourth quarter worth $466,653,000. Bank of America Corp DE raised its position in PulteGroup by 13.1% during the second quarter. Bank of America Corp DE now owns 1,755,241 shares of the construction company’s stock worth $185,108,000 after acquiring an additional 202,870 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of PulteGroup by 120.4% in the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after purchasing an additional 930,287 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.4%

PHM stock opened at $122.66 on Tuesday. 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 company’s 50-day simple moving average is $119.71 and its 200 day simple moving average is $124.19. PulteGroup, Inc. has a 52 week low of $98.27 and a 52 week high of $144.49. The company has a market capitalization of $23.37 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the company earned $2.57 EPS. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup declared that its Board of Directors has initiated 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 buy up to 6.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

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

Insider Transactions at PulteGroup

In other news, Director Lila Snyder sold 3,339 shares of the 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the 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 directly owned 28,100 shares of the company’s stock, valued at $3,372,000. This trade represents a 20.97% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PHM has been the topic of several research reports. Weiss Ratings downgraded shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Seaport Research Partners reiterated a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Barclays decreased their price objective on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. The Goldman Sachs Group upped their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.71.

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.