AEGON ASSET MANAGEMENT UK Plc Raises Position in PulteGroup, Inc. $PHM

Key Points

• AEGON ASSET MANAGEMENT UK Plc boosted its PulteGroup stake by 33.2% in the first quarter, buying 53,288 additional shares and bringing its holdings to 213,789 shares worth about $25.1 million.
• PulteGroup reported mixed quarterly results, with EPS of $1.79 slightly missing estimates while revenue of $3.41 billion came in roughly in line; revenue was also down 12.4% year over year.
• The company authorized a $1.5 billion share buyback and paid a quarterly dividend of $0.26 per share, while analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $140.71.

AEGON ASSET MANAGEMENT UK Plc raised its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 213,789 shares of the construction company's stock after buying an additional 53,288 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.11% of PulteGroup worth $25,144,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rachor Investment Advisory Services LLC purchased a new position in shares of PulteGroup in the fourth quarter valued at approximately $31,000. DV Equities LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $32,000. Lloyd Advisory Services LLC. purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $33,000. High Point Wealth Management LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $38,000. Finally, Beacon Financial Strategies CORP acquired a new position in PulteGroup in the 4th quarter valued at $40,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of research reports. Weiss Ratings lowered PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, April 27th. Seaport Research Partners reaffirmed a "sell" rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Citigroup increased their target price on shares of PulteGroup from $136.00 to $138.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. The Goldman Sachs Group raised their price target on shares of PulteGroup from $133.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Finally, Barclays lowered their price target on shares of PulteGroup from $115.00 to $112.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $140.71.

PulteGroup Price Performance

NYSE:PHM opened at $127.03 on Friday. PulteGroup, Inc. has a one year low of $99.45 and a one year high of $144.49. The stock has a market cap of $24.20 billion, a PE ratio of 12.29, a P/E/G ratio of 1.61 and a beta of 1.20. 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 stock has a 50 day moving average price of $120.27 and a 200 day moving average price of $124.15.

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 analysts' consensus estimates of $1.80 by ($0.01). The company 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 business's quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. Equities research analysts expect that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup announced that its Board of Directors has initiated a share buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at PulteGroup

In other news, COO Matthew William Koart sold 7,457 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares of the company's stock, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lila Snyder sold 3,339 shares of the company's stock in a transaction dated 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 sale, the director directly owned 3,540 shares of the company's stock, valued at $414,817.20. This represents a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is owned by 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.

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