Strs Ohio Purchases 41,252 Shares of PulteGroup, Inc. $PHM

Key Points

• STRS Ohio boosted its PulteGroup stake by 13% in Q4, buying 41,252 shares to hold 358,953 shares (about 0.18% of the company) valued at roughly $42.09 million.
• PulteGroup's board authorized a $1.50 billion share buyback (up to 6.1% of outstanding shares) and declared a quarterly dividend of $0.26 ($1.04 annualized, about a 0.9% yield).
• The company reported quarterly EPS of $1.79 versus a $1.80 consensus and revenue of $3.41 billion (down 12.4% year-over-year), while analysts maintain an average "Moderate Buy" rating with a $140.71 target.

Strs Ohio lifted its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,953 shares of the construction company's stock after acquiring an additional 41,252 shares during the period. Strs Ohio owned approximately 0.18% of PulteGroup worth $42,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PHM. Focus Partners Wealth increased its position in shares of PulteGroup by 20.5% during the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company's stock valued at $1,287,000 after acquiring an additional 2,128 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of PulteGroup by 197.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company's stock valued at $128,000 after acquiring an additional 804 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of PulteGroup by 12.9% during the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company's stock valued at $898,000 after acquiring an additional 975 shares in the last quarter. Baird Financial Group Inc. increased 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 valued at $3,065,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Cerity Partners LLC increased its position in shares of PulteGroup by 17.6% during the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company's stock valued at $4,395,000 after acquiring an additional 6,240 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in 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. Wells Fargo & Company raised their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Citigroup raised their price target on shares of PulteGroup from $136.00 to $138.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. The Goldman Sachs Group raised their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Finally, Evercore raised their price target on shares of PulteGroup from $146.00 to $151.00 and gave the company an "outperform" rating in a research report 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. According to data from MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and an average target price of $140.71.

Insider Buying and Selling

In other news, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the transaction, the insider owned 659,392 shares in the company, valued at $88,266,213.12. This trade represents a 14.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the transaction, the executive vice president owned 14,673 shares in the company, valued at $2,069,333.19. This represents a 26.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 149,952 shares of company stock valued at $20,162,165 in the last ninety days. Corporate insiders own 0.75% of the company's stock.

PulteGroup Trading Down 2.4%

Shares of PHM stock opened at $119.44 on Friday. PulteGroup, Inc. has a 12-month low of $95.20 and a 12-month high of $144.49. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm's 50 day moving average is $124.18 and its 200 day moving average is $124.71. The stock has a market capitalization of $22.75 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.51 and a beta of 1.24.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (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 company had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter in the prior year, the business posted $2.57 EPS. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts expect that PulteGroup, Inc. will post 10.02 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued 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 (DPR) is currently 10.06%.

PulteGroup declared that its Board of Directors has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is 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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