PulteGroup, Inc. $PHM is Jackson Hill Advisors LLC's 8th Largest Position

Key Points

• Jackson Hill Advisors cut its PulteGroup stake by 31.9% in Q4, but PHM still makes up about 6.7% of the firm’s portfolio and remains its 8th-largest holding.
• Wall Street sentiment is mixed but constructive overall: analysts assign PulteGroup a Moderate Buy consensus, with an average price target of $140.71.
• PulteGroup reported Q1 earnings of $1.79 per share, just below estimates, while also announcing a $1.50 billion share buyback and a quarterly dividend of $0.26 per share.

Jackson Hill Advisors LLC lessened its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 31.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,500 shares of the construction company's stock after selling 57,500 shares during the period. PulteGroup comprises about 6.7% of Jackson Hill Advisors LLC's portfolio, making the stock its 8th largest holding. Jackson Hill Advisors LLC owned 0.06% of PulteGroup worth $14,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Rachor Investment Advisory Services LLC purchased a new position in shares of PulteGroup in the 4th quarter valued at about $31,000. Lloyd Advisory Services LLC. purchased a new position in shares of PulteGroup in the 4th quarter valued at about $33,000. High Point Wealth Management LLC purchased a new position in shares of PulteGroup in the 4th quarter valued at about $38,000. Beacon Financial Strategies CORP purchased a new position in shares of PulteGroup in the 4th quarter valued at about $40,000. Finally, Elyxium Wealth LLC purchased a new position in shares of PulteGroup in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of several recent analyst reports. Seaport Research Partners restated a "sell" rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Truist Financial cut their price target on PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. Wells Fargo & Company lifted their price objective on PulteGroup from $132.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Raymond James Financial reiterated an "outperform" rating and issued a $145.00 price objective on shares of PulteGroup in a report on Wednesday, February 4th. Finally, Barclays lowered their price objective on PulteGroup from $115.00 to $112.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and a consensus price target of $140.71.

Insider Activity at PulteGroup

In other 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 transaction of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at $414,817.20. The trade was a 48.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company's stock.

PulteGroup Trading Down 0.5%

PHM stock opened at $117.19 on Thursday. 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 12-month low of $98.27 and a 12-month high of $144.49. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.49 and a beta of 1.20. The business's 50-day moving average is $119.07 and its 200 day moving average is $124.00.

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 (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The company's quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

PulteGroup declared that its Board of Directors has authorized a stock buyback program on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

PulteGroup 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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