Forsta AP Fonden Sells 52,400 Shares of PulteGroup, Inc. $PHM

Key Points

• Forsta AP Fonden cut its PulteGroup stake by 58.2% in the fourth quarter, selling 52,400 shares and leaving it with 37,600 shares valued at about $4.41 million.
• Several PulteGroup insiders also sold shares, including Director Lila Snyder and COO Matthew William Koart, in transactions disclosed in SEC filings.
• PulteGroup reported mixed recent results and continues to draw analyst attention: it missed quarterly EPS by a penny, announced a $1.5 billion share buyback, and carries a consensus Moderate Buy rating with an average price target of $140.71.

Forsta AP Fonden lowered its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 58.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,600 shares of the construction company's stock after selling 52,400 shares during the period. Forsta AP Fonden's holdings in PulteGroup were worth $4,409,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rachor Investment Advisory Services LLC bought a new position in PulteGroup during the 4th quarter worth about $31,000. Lloyd Advisory Services LLC. bought a new position in PulteGroup during the 4th quarter worth about $33,000. High Point Wealth Management LLC bought a new position in PulteGroup during the 4th quarter worth about $38,000. Beacon Financial Strategies CORP bought a new position in PulteGroup during the 4th quarter worth about $40,000. Finally, Elyxium Wealth LLC bought a new position in PulteGroup during the 4th quarter worth about $41,000. Institutional investors own 89.90% of the company's stock.

Insider Transactions at PulteGroup

In related news, 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 sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer owned 28,100 shares of the company's stock, 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Seaport Research Partners reiterated a "sell" rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Evercore increased their target price on PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of PulteGroup in a report on Tuesday, May 26th. Raymond James Financial restated an "outperform" rating and set a $145.00 price objective on shares of PulteGroup in a research note on Wednesday, February 4th. Finally, Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and an average price target of $140.71.

PulteGroup Trading Up 0.1%

PulteGroup stock opened at $117.80 on Wednesday. The firm has a 50-day moving average of $119.03 and a 200-day moving average of $124.03. PulteGroup, Inc. has a one year low of $96.46 and a one year high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.49 and a beta of 1.20.

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). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the company earned $2.57 earnings per share. The company's quarterly revenue was down 12.4% on a year-over-year basis. On average, equities analysts expect that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

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

PulteGroup Dividend Announcement

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

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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