AustralianSuper Pty Ltd Purchases 183,420 Shares of PulteGroup, Inc. $PHM

Key Points

• AustralianSuper Pty Ltd increased its PulteGroup stake by 37.5% in the fourth quarter, buying 183,420 additional shares and lifting its holdings to 672,671 shares worth about $78.9 million.
• Analysts remain broadly positive on PulteGroup, with a consensus rating of “Moderate Buy” and an average price target of $140.71. Several firms recently raised targets, including UBS and Wells Fargo.
• PulteGroup reported quarterly EPS of $1.79, just below estimates, while revenue of $3.41 billion slightly topped expectations but fell 12.4% year over year. The company also announced a $1.50 billion share buyback plan and a quarterly dividend of $0.26 per share.

AustralianSuper Pty Ltd lifted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 672,671 shares of the construction company's stock after purchasing an additional 183,420 shares during the quarter. AustralianSuper Pty Ltd owned 0.35% of PulteGroup worth $78,877,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PHM. Thrivent Financial for Lutherans lifted its stake in shares of PulteGroup by 51.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 18,044 shares of the construction company's stock valued at $2,117,000 after purchasing an additional 6,149 shares during the last quarter. Knuff & Co LLC increased its position in shares of PulteGroup by 16.3% during the 4th quarter. Knuff & Co LLC now owns 13,330 shares of the construction company's stock valued at $1,563,000 after purchasing an additional 1,873 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in PulteGroup during the 4th quarter valued at $460,000. ABC Arbitrage SA bought a new stake in PulteGroup in the fourth quarter worth $2,411,000. Finally, AG2R LA Mondiale Gestion D Actifs lifted its position in PulteGroup by 1.6% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 8,732 shares of the construction company's stock worth $1,024,000 after buying an additional 141 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PHM. UBS Group boosted their price objective on shares of PulteGroup from $159.00 to $162.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Wells Fargo & Company raised their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Oppenheimer reaffirmed an "outperform" rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. 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. Finally, Barclays reduced their price objective 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 investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $140.71.

PulteGroup Stock Up 0.7%

NYSE:PHM opened at $113.78 on Friday. The company has a market cap of $21.67 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. PulteGroup, Inc. has a twelve month low of $95.20 and a twelve month high of $144.49. 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 stock has a fifty day simple moving average of $120.88 and a 200-day simple moving average of $124.35.

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 (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. PulteGroup's quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. Analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup's payout ratio is presently 10.06%.

PulteGroup declared that its Board of Directors has initiated a share 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at PulteGroup

In other news, EVP Kevin A. Henry sold 5,173 shares of the 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 transaction, the executive vice president owned 14,673 shares of the company's stock, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was 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 approximately $414,817.20. This trade 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.

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.

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