PulteGroup, Inc. $PHM Shares Purchased by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. raised its holding in PulteGroup (PHM) by 15% in Q4 to 74,967 shares, worth about $8.79 million.
• Insiders have been selling recently—EVP Todd Sheldon and COO Matthew Koart sold shares on Feb. 6—and insiders have unloaded 149,952 shares worth $20.16 million in the last 90 days, now owning 0.75% of the company.
• The board approved a $1.5 billion share repurchase program (about 6.1% of shares) and declared a quarterly dividend of $0.26 (annualized $1.04, ~0.9% yield).

Benjamin Edwards Inc. lifted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 15.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,967 shares of the construction company's stock after purchasing an additional 9,774 shares during the period. Benjamin Edwards Inc.'s holdings in PulteGroup were worth $8,790,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PHM. Franklin Resources Inc. grew its holdings in PulteGroup by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company's stock worth $1,704,513,000 after acquiring an additional 609,640 shares in the last quarter. First Trust Advisors LP grew its holdings in 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 acquiring an additional 424,011 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in PulteGroup during the 3rd quarter worth approximately $315,883,000. Bank of America Corp DE grew its holdings in PulteGroup by 13.1% during the 2nd quarter. Bank of America Corp DE now owns 1,755,241 shares of the construction company's stock worth $185,108,000 after acquiring an additional 202,870 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company's stock worth $225,024,000 after acquiring an additional 930,287 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Insider Transactions at PulteGroup

In related news, EVP Todd N. Sheldon sold 14,220 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $135.01, for a total value of $1,919,842.20. Following the completion of the sale, the executive vice president owned 69,753 shares in the company, valued at $9,417,352.53. This represents a 16.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew William Koart sold 15,309 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the sale, the chief operating officer owned 42,418 shares of the company's stock, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,952 shares of company stock worth $20,162,165 over the last 90 days. Company insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings cut shares of PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, April 27th. Barclays reduced their price objective on shares of PulteGroup from $115.00 to $112.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Citigroup boosted their price objective on shares of PulteGroup from $136.00 to $138.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, Evercore boosted their price objective on shares of PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $140.71.

PulteGroup Stock Up 0.2%

PHM stock opened at $119.44 on Monday. The company has a fifty day moving average price of $124.18 and a 200 day moving average price of $124.71. PulteGroup, Inc. has a 12 month low of $95.20 and a 12 month high of $144.49. The company has a market cap of $22.75 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS 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 during the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter last year, the company earned $2.57 EPS. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts expect that PulteGroup, Inc. will post 10.02 earnings per share for the current year.

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

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be given a $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup's dividend payout ratio is 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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