20,563 Shares in PulteGroup, Inc. $PHM Bought by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA disclosed a new fourth-quarter stake in PulteGroup, buying 20,563 shares valued at about $2.41 million.
• PulteGroup reported quarterly earnings of $1.79 per share, missing estimates by a penny, while revenue came in at $3.41 billion, slightly above expectations but down 12.4% year over year.
• The company announced a quarterly dividend of $0.26 and a $1.5 billion share repurchase authorization, signaling continued capital returns to shareholders.

ABC Arbitrage SA bought a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,563 shares of the construction company's stock, valued at approximately $2,411,000.

Several other large investors also recently modified their holdings of PHM. Focus Partners Wealth lifted its stake in PulteGroup by 20.5% in the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company's stock valued at $1,287,000 after buying an additional 2,128 shares in the last quarter. EverSource Wealth Advisors LLC increased its position 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 worth $128,000 after acquiring an additional 804 shares in the last quarter. Guggenheim Capital LLC raised its holdings 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 worth $898,000 after acquiring 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 worth $3,065,000 after acquiring an additional 2,164 shares during the period. Finally, Cerity Partners LLC lifted its position in PulteGroup by 17.6% in the 2nd 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 institutional investors.

PulteGroup Stock Performance

NYSE PHM opened at $115.44 on Tuesday. The firm has a market capitalization of $21.99 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23. 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 firm's fifty day moving average price is $122.11 and its two-hundred day moving average price is $124.49. PulteGroup, Inc. has a 1 year low of $95.20 and a 1 year high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last released 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). The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup's dividend payout ratio is currently 10.06%.

PulteGroup declared that its board has authorized a stock buyback plan on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding 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 generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PHM. Royal Bank Of Canada upped their target price on shares of PulteGroup from $111.00 to $115.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. Bank of America cut their price target on PulteGroup from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Raymond James Financial reaffirmed an "outperform" rating and set a $145.00 price objective on shares of PulteGroup in a research report on Wednesday, February 4th. Truist Financial lowered their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $149.00 to $131.00 and set an "overweight" rating for the company in a research report on Tuesday, February 3rd. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $140.71.

Insider Buying and Selling

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares of the company's stock, valued at $2,069,333.19. This trade represents a 26.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares in the company, valued at approximately $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. Company insiders own 0.75% of the company's stock.

About PulteGroup

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.

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