Qsemble Capital Management LP Acquires Shares of 61,441 PulteGroup, Inc. $PHM

Key Points

• Qsemble Capital Management disclosed a new fourth-quarter stake in PulteGroup, buying 61,441 shares valued at about $7.2 million.
• PulteGroup reported quarterly earnings of $1.79 per share, slightly missing expectations, while revenue of $3.41 billion came in just above estimates and fell 12.4% year over year.
• The company’s board approved a $1.5 billion share repurchase program and also declared a quarterly dividend of $0.26 per share; meanwhile, analysts still rate the stock a Moderate Buy on average.

Qsemble Capital Management LP acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 61,441 shares of the construction company's stock, valued at approximately $7,205,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup in the 4th quarter valued at $31,000. High Point Wealth Management LLC acquired a new position in shares of PulteGroup during the 4th quarter worth $38,000. Beacon Financial Strategies CORP acquired a new position in shares of PulteGroup during the 4th quarter worth $40,000. Fulcrum Asset Management LLP acquired a new position in shares of PulteGroup during the 3rd quarter worth $47,000. Finally, Root Financial Partners LLC acquired a new position in shares of PulteGroup during the 3rd quarter worth $54,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lila Snyder sold 3,339 shares of the business's stock in a transaction 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 sale, the director 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 legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares in the company, valued at $2,069,333.19. This trade represents a 26.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

PHM has been the subject of a number of research analyst reports. UBS Group boosted their price target on PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Truist Financial lowered their price target on PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Citigroup boosted their price target on PulteGroup from $136.00 to $138.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. JPMorgan Chase & Co. lowered their price target on PulteGroup from $149.00 to $131.00 and set an "overweight" rating for the company in a report on Tuesday, February 3rd. Finally, Oppenheimer reissued an "outperform" rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $140.71.

PulteGroup Trading Down 3.1%

Shares of PHM stock opened at $110.35 on Friday. The firm has a market capitalization of $21.02 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.44 and a beta of 1.23. PulteGroup, Inc. has a twelve month low of $95.20 and a twelve month high of $144.49. 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 stock's fifty day simple moving average is $120.44 and its 200 day simple moving average is $124.25.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.80 by ($0.01). The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company's revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 EPS. As a group, sell-side analysts predict that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup announced that its board has approved a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

PulteGroup Dividend Announcement

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

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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