Mediolanum International Funds Ltd Grows Stake in PulteGroup, Inc. $PHM

Mediolanum International Funds Ltd raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 230.7% in the first quarter, HoldingsChannel reports. The firm owned 10,171 shares of the construction company’s stock after acquiring an additional 7,095 shares during the period. Mediolanum International Funds Ltd’s holdings in PulteGroup were worth $1,157,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC increased its stake in shares of PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after buying an additional 198 shares during the period. NFSG Corp purchased a new stake in PulteGroup in the first quarter worth about $29,000. Rachor Investment Advisory Services LLC bought a new position in PulteGroup during the 4th quarter worth about $31,000. DV Equities LLC bought a new position in PulteGroup during the 4th quarter worth about $32,000. Finally, HHM Wealth Advisors LLC increased its position in PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. The Goldman Sachs Group upped their target price on PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Seaport Research Partners reiterated a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.21.

PulteGroup Stock Up 0.9%

NYSE:PHM opened at $124.24 on Wednesday. PulteGroup, Inc. has a fifty-two week low of $108.49 and a fifty-two week high of $144.49. The stock has a market capitalization of $23.67 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.57 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. The company’s 50-day simple moving average is $123.27 and its 200-day simple moving average is $125.12.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). The firm had revenue of $3.41 billion for 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 company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.57 EPS. On average, equities analysts anticipate that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th were given a $0.26 dividend. The ex-dividend date of this dividend was 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 (DPR) is presently 10.06%.

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

Insiders Place Their Bets

In related news, Director Lila Snyder sold 3,339 shares of the business’s 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 in the company, valued at $414,817.20. The trade was a 48.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by company 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.