BNP Paribas Acquires 14,264 Shares of PulteGroup, Inc. $PHM

Key Points

• BNP Paribas increased its PulteGroup stake by 147.2% in the fourth quarter, buying 14,264 additional shares and bringing its total holding to 23,952 shares worth about $2.8 million.
• Several analysts remain constructive on PulteGroup, with firms like Evercore, Wells Fargo, and UBS raising price targets; overall, the stock carries a Moderate Buy rating and an average target of $140.71.
• PulteGroup reported mixed recent results: quarterly EPS missed estimates by $0.01 while revenue slightly topped forecasts, and the company also announced a $1.50 billion share repurchase program plus a quarterly dividend of $0.26 per share.

BNP Paribas boosted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 147.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,952 shares of the construction company's stock after buying an additional 14,264 shares during the period. BNP Paribas' holdings in PulteGroup were worth $2,812,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC bought a new position in PulteGroup in the 4th quarter worth approximately $31,000. Lloyd Advisory Services LLC. bought a new stake in shares of PulteGroup during the fourth quarter valued at approximately $33,000. High Point Wealth Management LLC bought a new stake in shares of PulteGroup during the fourth quarter valued at approximately $38,000. Beacon Financial Strategies CORP bought a new stake in shares of PulteGroup during the fourth quarter valued at approximately $40,000. Finally, Elyxium Wealth LLC bought a new stake in shares of PulteGroup during the fourth quarter valued at approximately $41,000. 89.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of research reports. Evercore boosted their price objective on PulteGroup from $146.00 to $151.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Bank of America lowered their price objective on PulteGroup from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. JPMorgan Chase & Co. lowered their price objective on PulteGroup from $149.00 to $131.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 3rd. Wells Fargo & Company boosted their price objective on PulteGroup from $132.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Finally, UBS Group boosted their price objective on PulteGroup from $159.00 to $162.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $140.71.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the company's stock in a transaction on 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lila Snyder sold 3,339 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares in the company, valued at approximately $414,817.20. This represents a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Price Performance

PulteGroup stock opened at $117.80 on Wednesday. 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 firm has a market cap of $22.44 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.49 and a beta of 1.20. The business's fifty day moving average is $119.03 and its two-hundred day moving average is $124.03. PulteGroup, Inc. has a 52 week low of $96.46 and a 52 week high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts' consensus estimates of $1.80 by ($0.01). The business had revenue of $3.41 billion during 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%.PulteGroup's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 EPS. Equities research analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup declared that its board has initiated a stock repurchase plan on Thursday, April 23rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire 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 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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