Amundi Has $169.18 Million Position in PulteGroup, Inc. $PHM

Key Points

• Amundi increased its PulteGroup stake by 28.6% in the first quarter, purchasing 319,617 additional shares. Its position totaled 1.44 million shares valued at $169.18 million, while institutional investors collectively owned 89.9% of PHM.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $143.14. Recent targets range from $124 to $150, including upgrades from Goldman Sachs, Barclays and Wells Fargo.
• PulteGroup beat quarterly earnings and revenue expectations, reporting $2.48 in EPS and $3.98 billion in revenue, though revenue fell 9.6% year over year. The company also authorized a $1.5 billion share-repurchase program, while shares recently traded at $129.05.

Amundi raised its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 28.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,438,508 shares of the construction company's stock after purchasing an additional 319,617 shares during the period. Amundi owned approximately 0.76% of PulteGroup worth $169,183,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Focus Partners Wealth grew 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 acquiring an additional 2,128 shares during the period. EverSource Wealth Advisors LLC raised 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 purchasing an additional 804 shares during the period. Guggenheim Capital LLC raised its position 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 purchasing an additional 975 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company's stock valued at $3,065,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company's stock valued at $4,395,000 after purchasing an additional 6,240 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings raised PulteGroup from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 23rd. The Goldman Sachs Group upped their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Barclays increased their price objective on shares of PulteGroup from $123.00 to $124.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Truist Financial dropped 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, Wells Fargo & Company boosted their price objective on shares of PulteGroup from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.14.

Insider Activity

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 transaction of $391,264.02. Following the completion of the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. This represents a 48.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction, the chief operating officer owned 28,100 shares of the company's stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company's stock.

PulteGroup Trading Down 2.5%

NYSE:PHM opened at $129.05 on Friday. The company has a market cap of $24.19 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.64 and a beta of 1.18. PulteGroup, Inc. has a twelve month low of $108.49 and a twelve month high of $144.49. The business has a 50 day moving average price of $125.54 and a two-hundred day moving average price of $125.52. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the company earned $3.03 earnings per share. The firm's revenue was down 9.6% compared to the same quarter last year. As a group, analysts expect that PulteGroup, Inc. will post 10.08 EPS for the current fiscal year.

PulteGroup declared that its board has authorized a share 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 purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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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