Oddo BHF Asset Management Sas Sells 131,278 Shares of PulteGroup, Inc. $PHM

Key Points

• Oddo BHF Asset Management Sas slashed its PulteGroup stake by 92% in the fourth quarter, selling 131,278 shares and leaving it with 11,392 shares worth about $1.34 million.
• PulteGroup reported quarterly EPS of $1.79, missing estimates by a penny, while revenue of $3.41 billion came in slightly above forecasts; revenue was still down 12.4% year over year.
• The company announced a $1.50 billion share repurchase plan and a quarterly dividend of $0.26 per share, while analysts currently rate the stock a “Moderate Buy” with an average target of $140.71.

Oddo BHF Asset Management Sas cut its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 92.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,392 shares of the construction company's stock after selling 131,278 shares during the period. Oddo BHF Asset Management Sas' holdings in PulteGroup were worth $1,336,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC boosted its holdings in PulteGroup by 18.3% in the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company's stock worth $57,000 after purchasing an additional 75 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company's stock valued at $304,000 after acquiring an additional 78 shares during the period. Stephens Inc. AR lifted its stake in shares of PulteGroup by 3.5% in the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company's stock valued at $276,000 after buying an additional 80 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of PulteGroup by 3.6% in the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company's stock valued at $313,000 after buying an additional 92 shares during the period. Finally, Opal Wealth Advisors LLC lifted its stake in shares of PulteGroup by 4.8% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company's stock valued at $254,000 after buying an additional 99 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

NYSE PHM opened at $124.74 on Wednesday. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.56 and a beta of 1.20. The company has a 50 day moving average of $119.86 and a 200-day moving average of $124.17. 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 1-year low of $98.27 and a 1-year 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 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). The firm had revenue of $3.41 billion for 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%.The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.57 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup's dividend payout ratio (DPR) is currently 10.06%.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PHM shares. Evercore raised their price target on shares of PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Truist Financial cut their price target on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. Barclays cut their price target on shares of PulteGroup from $115.00 to $112.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Seaport Research Partners restated a "sell" rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Finally, The Goldman Sachs Group raised their price target on shares of PulteGroup from $133.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.71.

Insider Buying and Selling

In related news, COO Matthew William Koart sold 7,457 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value 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. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 directly owned 3,540 shares of the company's stock, valued at approximately $414,817.20. This represents a 48.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.75% of the company's stock.

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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