M&T Bank Corp Increases Stake in PulteGroup, Inc. $PHM

Key Points

• M&T Bank boosted its stake in PulteGroup by 292.2% in Q4, buying an additional 45,934 shares to hold 61,656 shares worth about $7.23 million.
• PulteGroup’s board approved a $1.5 billion increase to its share repurchase authorization (bringing total authorization to $2.1 billion), enabling repurchases of roughly 6.1% of outstanding shares.
• The company reported Q1 EPS of $1.79 (missed by $0.01) and revenue of $3.41 billion—down 12.4% year‑over‑year—with margin pressure from higher incentives, signaling continued demand softness.

M&T Bank Corp lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 292.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,656 shares of the construction company's stock after buying an additional 45,934 shares during the quarter. M&T Bank Corp's holdings in PulteGroup were worth $7,230,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of PulteGroup by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company's stock valued at $1,704,513,000 after purchasing an additional 609,640 shares during the last quarter. First Trust Advisors LP lifted its position in shares of PulteGroup by 13.3% during the 3rd quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company's stock worth $478,828,000 after purchasing an additional 424,011 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of PulteGroup during the third quarter worth $315,883,000. Bank of America Corp DE increased its holdings in PulteGroup by 13.1% in the second quarter. Bank of America Corp DE now owns 1,755,241 shares of the construction company's stock valued at $185,108,000 after buying an additional 202,870 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in PulteGroup by 120.4% in the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company's stock valued at $225,024,000 after buying an additional 930,287 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

Shares of PHM stock opened at $127.74 on Friday. The stock's 50-day moving average is $125.57 and its two-hundred day moving average is $124.66. The firm has a market cap of $24.47 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.69 and a beta of 1.33. PulteGroup, Inc. has a 1 year low of $95.20 and a 1 year high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 0.94.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results 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 firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the firm posted $2.57 EPS. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. Analysts predict that PulteGroup, Inc. will post 10.07 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup's payout ratio is 9.35%.

PulteGroup declared that its board has approved a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of recent analyst reports. UBS Group lifted their price target on PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a report on Friday. Seaport Research Partners reissued a "sell" rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Citizens Jmp initiated coverage on PulteGroup in a research note on Wednesday, January 7th. They set a "market outperform" rating and a $145.00 target price for the company. Wells Fargo & Company upped their price target on PulteGroup from $132.00 to $140.00 and gave the company an "overweight" rating in a report on Friday. Finally, Truist Financial cut their price objective on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating on the stock in a report on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average target price of $140.71.

Insider Activity at PulteGroup

In other PulteGroup news, insider Ryan Marshall sold 111,250 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the sale, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the 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 sale, the executive vice president directly owned 14,673 shares of the company's stock, valued at $2,069,333.19. The trade was a 26.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 149,952 shares of company stock valued at $20,162,165 over the last 90 days. 0.75% of the stock is owned by insiders.

More PulteGroup News

Here are the key news stories impacting PulteGroup this week:

• Positive Sentiment: PulteGroup’s board approved a $1.5 billion increase to its share repurchase authorization (bringing total authorization to $2.1 billion), enabling repurchases of roughly 6.1% of shares — a capital-return move that often supports the stock. PulteGroup Announces $1.5 Billion Increase to Share Repurchase Authorization
• Positive Sentiment: Evercore raised its price target to $151 and maintained an “outperform” rating — the most bullish lift among recent analyst moves and implies material upside from current levels. Evercore price target lift to $151
• Neutral Sentiment: Goldman Sachs and Citigroup both nudged up price targets (to $142 and $138, respectively) but kept “neutral” ratings — modestly constructive but not a clear buy signal. Goldman Sachs PT raise Citigroup PT raise
• Neutral Sentiment: Analyst and media coverage digging into Q1 results, valuation and the expanded buyback (slides, call transcript, and valuation pieces) may shape investor views but provide mixed signals rather than a clear directional catalyst. Earnings presentation
• Negative Sentiment: Q1 results: EPS of $1.79 missed consensus by $0.01 and fell sharply from $2.57 a year ago; revenue of $3.41B was roughly in line but down 12.4% YoY — a sign of continued demand softness. Q1 results and transcript
• Negative Sentiment: Margins compressed as incentives rose to stimulate sales in a stagnant market; coverage highlights falling selling prices and higher incentives, which weigh on near-term profitability. WSJ: lower profit
• Negative Sentiment: Multiple outlets and analyst notes flagged the earnings miss and continued pressure on closings and selling prices — a primary reason the stock is trading down despite the buyback boost. Seeking Alpha: earnings miss

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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