PulteGroup, Inc. $PHM Shares Sold by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. reduced its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 32.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,146 shares of the construction company's stock after selling 43,874 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in PulteGroup were worth $10,837,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PHM. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup during the fourth quarter worth approximately $31,000. HHM Wealth Advisors LLC raised its position in PulteGroup by 158.5% in the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock valued at $32,000 after purchasing an additional 168 shares during the period. DV Equities LLC purchased a new stake in shares of PulteGroup during the 4th quarter valued at about $32,000. Lloyd Advisory Services LLC. acquired a new position in PulteGroup during the 4th quarter worth approximately $33,000. Finally, High Point Wealth Management LLC purchased a new position in PulteGroup in the 4th quarter worth approximately $38,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.9%

Shares of NYSE PHM opened at $133.79 on Friday. The business has a fifty day simple moving average of $122.11 and a 200-day simple moving average of $124.56. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The company has a market cap of $25.49 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.69 and a beta of 1.18. PulteGroup, Inc. has a 12 month low of $107.07 and a 12 month high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last announced its 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 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 business earned $2.57 earnings per share. The business's quarterly revenue was down 12.4% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 9.95 EPS for the current year.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th were issued a $0.26 dividend. The ex-dividend date was 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 is presently 10.06%.

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 7,457 shares of the firm's stock in a transaction 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 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 filing with the SEC, which is available at this link. Also, Director Lila Snyder sold 3,339 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value 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 trade represents a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings downgraded shares of PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Truist Financial cut their target price on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. UBS Group upped their price target on PulteGroup from $159.00 to $162.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Oppenheimer reissued an "outperform" rating on shares of PulteGroup in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group raised their target price on PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.71.

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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