Bank Julius Baer & Co. Ltd Zurich Sells 10,417 Shares of PulteGroup, Inc. $PHM

Key Points

• Bank Julius Baer cut its PulteGroup stake by 27.5% in the fourth quarter, selling 10,417 shares and leaving it with 27,428 shares valued at about $3.24 million.
• PulteGroup insiders also sold shares recently, including Director Lila Snyder and EVP Kevin A. Henry, while insiders currently own just 0.75% of the company.
• The homebuilder reported mixed quarterly results and authorized a $1.5 billion share repurchase program; the company also declared a $0.26 quarterly dividend and analysts currently rate the stock a consensus Moderate Buy.

Bank Julius Baer & Co. Ltd Zurich reduced its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 27.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,428 shares of the construction company's stock after selling 10,417 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in PulteGroup were worth $3,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PHM. Massachusetts Financial Services Co. MA bought a new stake in PulteGroup during the 3rd quarter worth about $315,883,000. AGF Management Ltd. bought a new stake in PulteGroup during the 3rd quarter worth about $174,347,000. American Century Companies Inc. raised its holdings in PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company's stock worth $225,024,000 after purchasing an additional 930,287 shares during the last quarter. Franklin Resources Inc. raised its holdings in PulteGroup by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company's stock worth $1,704,513,000 after purchasing an additional 609,640 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of PulteGroup by 13.3% in the 3rd quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company's stock valued at $478,828,000 after acquiring an additional 424,011 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Insider Activity at PulteGroup

In related news, Director Lila Snyder sold 3,339 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the transaction, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the transaction, the executive vice president owned 14,673 shares of the company's stock, valued at $2,069,333.19. This represents a 26.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by insiders.

PulteGroup Price Performance

Shares of PHM opened at $110.35 on Friday. 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 simple moving average of $120.44 and a 200 day simple moving average of $124.25. PulteGroup, Inc. has a 52-week low of $95.20 and a 52-week high of $144.49. The firm has a market capitalization of $21.02 billion, a PE ratio of 10.67, a P/E/G ratio of 1.44 and a beta of 1.23.

PulteGroup (NYSE:PHM - Get Free Report) last issued 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). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the firm posted $2.57 earnings per share. PulteGroup's revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup declared that its board has authorized a share repurchase program on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $145.00 price target on shares of PulteGroup in a research note on Wednesday, February 4th. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Bank of America lowered their price target on PulteGroup from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 20th. Barclays lowered their price target on PulteGroup from $115.00 to $112.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $149.00 price target (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

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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