United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases New Position in PulteGroup, Inc. $PHM

Key Points

• United Super Pty Ltd initiated a new position in PulteGroup, buying 124,335 shares worth about $14.58 million in the fourth quarter.
• PulteGroup reported Q1 earnings of $1.79 per share, narrowly missing estimates, while revenue of $3.41 billion came in slightly above expectations but fell 12.4% year over year.
• The company authorized a $1.5 billion share repurchase program and declared a quarterly dividend of $0.26 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $140.71.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 124,335 shares of the construction company's stock, valued at approximately $14,580,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund owned about 0.06% of PulteGroup at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of PulteGroup by 6.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,946 shares of the construction company's stock valued at $2,573,000 after purchasing an additional 1,301 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of PulteGroup by 87.8% in the 4th quarter. Intech Investment Management LLC now owns 10,185 shares of the construction company's stock valued at $1,194,000 after purchasing an additional 4,763 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of PulteGroup by 29.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 3,069 shares of the construction company's stock valued at $360,000 after purchasing an additional 700 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of PulteGroup by 15.9% in the 4th quarter. Baker Avenue Asset Management LP now owns 7,430 shares of the construction company's stock valued at $871,000 after purchasing an additional 1,020 shares during the last quarter. Finally, IFG Advisory LLC lifted its stake in shares of PulteGroup by 2.5% in the 4th quarter. IFG Advisory LLC now owns 29,458 shares of the construction company's stock valued at $3,454,000 after purchasing an additional 725 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Insider Transactions at PulteGroup

In related news, Director Lila Snyder sold 3,339 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew William Koart sold 7,457 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is owned by company insiders.

PulteGroup Trading Down 0.9%

Shares of NYSE PHM opened at $118.00 on Friday. 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 business has a fifty day simple moving average of $119.00 and a two-hundred day simple moving average of $124.06. The firm has a market cap of $22.48 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23. PulteGroup, Inc. has a twelve month low of $95.20 and a twelve month high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results 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 net margin of 12.14% and a return on equity of 16.41%. The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. Analysts expect that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

The business 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 of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. PulteGroup's dividend payout ratio (DPR) is presently 10.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $145.00 price objective on shares of PulteGroup in a research note on Wednesday, February 4th. Evercore raised their price objective on shares of PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Royal Bank Of Canada raised their price objective on shares of PulteGroup from $111.00 to $115.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. Seaport Research Partners reissued a "sell" rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Finally, Oppenheimer reissued an "outperform" rating on shares of PulteGroup in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $140.71.

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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