SG Americas Securities LLC Reduces Position in PulteGroup, Inc. $PHM

Key Points

• SG Americas Securities LLC cut its PulteGroup stake by 67.8% in the first quarter, selling 160,987 shares and leaving it with 76,589 shares valued at about $9.0 million.
• Several institutional investors and hedge funds also adjusted positions, and overall institutions still own 89.9% of PulteGroup’s stock.
• Analyst sentiment remains constructive: the stock has a consensus rating of “Moderate Buy” with an average price target of $140.71, even as some firms trimmed targets or ratings. PulteGroup also reported quarterly EPS of $1.79, just below expectations, and authorized a $1.5 billion share buyback plus a $0.26 quarterly dividend.

SG Americas Securities LLC decreased its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 67.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 76,589 shares of the construction company's stock after selling 160,987 shares during the quarter. SG Americas Securities LLC's holdings in PulteGroup were worth $9,008,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Focus Partners Wealth increased its holdings in PulteGroup by 20.5% during the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company's stock worth $1,287,000 after purchasing an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of PulteGroup by 197.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company's stock valued at $128,000 after buying an additional 804 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of PulteGroup by 12.9% during the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company's stock valued at $898,000 after buying an additional 975 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of PulteGroup by 8.0% during the second quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company's stock worth $3,065,000 after buying an additional 2,164 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of PulteGroup by 17.6% in the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company's stock worth $4,395,000 after buying an additional 6,240 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays cut their price target on shares of PulteGroup from $115.00 to $112.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Weiss Ratings lowered shares of PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, April 27th. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Bank of America cut their target price on shares of PulteGroup from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Finally, UBS Group increased their price target on shares of PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Ten equities 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, the company has a consensus rating of "Moderate Buy" and an average target price of $140.71.

Insider Transactions at PulteGroup

In other news, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the transaction, the director directly owned 3,540 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the transaction, the chief operating officer directly 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.75% of the company's stock.

PulteGroup Stock Performance

PHM stock opened at $137.74 on Friday. The stock's 50 day simple moving average is $121.34 and its 200 day simple moving average is $124.30. PulteGroup, Inc. has a 12-month low of $104.04 and a 12-month high of $144.49. The firm has a market cap of $26.24 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.75 and a beta of 1.20. 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 released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts' consensus estimates of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the firm earned $2.57 EPS. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities research analysts predict that PulteGroup, Inc. will post 9.95 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be given a $0.26 dividend. 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 dividend payout ratio (DPR) is presently 10.06%.

PulteGroup declared that its board has approved a stock buyback plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

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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