Aware Super Pty Ltd as trustee of Aware Super Makes New Investment in PulteGroup, Inc. $PHM

Key Points

• Aware Super initiated a new position in PulteGroup during the first quarter, buying 86,161 shares valued at about $10.1 million.
• PulteGroup’s latest quarterly results were mixed: it posted $1.79 EPS versus the $1.80 consensus, while revenue of $3.41 billion slightly topped expectations but fell 12.4% from a year earlier.
• The company continues to reward shareholders and signal confidence, with a quarterly dividend of $0.26 and a $1.5 billion stock buyback authorization in place.

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 86,161 shares of the construction company's stock, valued at approximately $10,133,000.

A number of other institutional investors also recently added to or reduced their stakes in PHM. Focus Partners Wealth increased its holdings in shares of PulteGroup by 20.5% in the 1st 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 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 purchasing an additional 804 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of PulteGroup by 12.9% in the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company's stock valued at $898,000 after acquiring an additional 975 shares during the period. Baird Financial Group Inc. grew its position in PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company's stock worth $3,065,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC increased 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 during the period. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Evercore increased their price objective on PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Bank of America decreased their price objective on shares of PulteGroup from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Finally, Truist Financial lowered their target price on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $142.21.

PulteGroup Stock Performance

NYSE:PHM opened at $125.92 on Friday. The firm's fifty day simple moving average is $122.92 and its 200 day simple moving average is $124.99. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a twelve month low of $107.91 and a twelve month high of $144.49. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.64 and a beta of 1.18.

PulteGroup (NYSE:PHM - Get Free Report) last released 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 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%. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the business earned $2.57 earnings per share. As a group, equities research analysts expect that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 16th. PulteGroup's dividend payout ratio is presently 10.06%.

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

Insider Activity at PulteGroup

In other news, Director Lila Snyder sold 3,339 shares of the firm's stock in a transaction that occurred 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 sale, the director 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction on 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 in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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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