PulteGroup, Inc. $PHM Shares Acquired by River Street Advisors LLC

Key Points

• River Street Advisors LLC boosted its PulteGroup stake by 94.6% in the first quarter, buying 8,851 additional shares and bringing its total to 18,208 shares worth about $2.14 million.
• PulteGroup reported quarterly earnings of $1.79 per share, slightly missing estimates, while revenue came in at $3.41 billion, roughly in line with expectations but down 12.4% year over year.
• The company announced a $1.50 billion share repurchase program and a quarterly dividend of $0.26 per share, underscoring management’s commitment to returning capital to shareholders.

River Street Advisors LLC increased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 94.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,208 shares of the construction company's stock after purchasing an additional 8,851 shares during the period. River Street Advisors LLC's holdings in PulteGroup were worth $2,141,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PHM. Nordea Investment Management AB lifted its stake in shares of PulteGroup by 2.4% in the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company's stock valued at $67,387,000 after purchasing an additional 13,259 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of PulteGroup by 166.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company's stock worth $1,964,000 after acquiring an additional 10,467 shares during the last quarter. Dorato Capital Management acquired a new position in shares of PulteGroup in the 4th quarter valued at approximately $2,625,000. National Pension Service grew its position in shares of PulteGroup by 3.8% during the fourth quarter. National Pension Service now owns 507,443 shares of the construction company's stock worth $59,503,000 after buying an additional 18,455 shares in the last quarter. Finally, EFG Asset Management Americas Corp. increased its stake in shares of PulteGroup by 351.9% in the third quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company's stock worth $6,177,000 after buying an additional 36,407 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $137.74 on Friday. PulteGroup, Inc. has a 52 week low of $104.04 and a 52 week high of $144.49. The firm has a market capitalization of $26.24 billion, a P/E ratio of 13.32, a PEG ratio of 1.73 and a beta of 1.20. The firm's 50 day moving average is $121.34 and its two-hundred day moving average is $124.30. 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 (NYSE:PHM - Get Free Report) last announced its earnings results 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). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the firm earned $2.57 EPS. The firm's revenue was down 12.4% on a year-over-year basis. Analysts anticipate that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors 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 0.8%. The ex-dividend date is Tuesday, June 16th. PulteGroup's payout ratio is currently 10.06%.

PulteGroup announced that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

PHM has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of PulteGroup from $159.00 to $162.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Barclays lowered their price objective on PulteGroup from $115.00 to $112.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Weiss Ratings lowered PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Bank of America lowered their price target on PulteGroup from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 20th. Finally, Evercore raised their price objective on PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

Insider Activity

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew William Koart sold 7,457 shares of the company'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 transaction of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares of the company's stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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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