Vanguard Group Inc. Has $2.67 Billion Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• Vanguard Group trimmed its position by 0.9% to 22,790,231 shares — roughly 11.69% of PulteGroup, valued at about $2.67 billion at quarter-end.
• PulteGroup posted quarterly EPS of $1.79 (missing estimates by $0.01) and revenue of $3.41 billion, down 12.4% year-over-year, and its board authorized a $1.5 billion share buyback (up to 6.1% of shares).
• Insiders sold about 149,952 shares (~$20.16 million) during the quarter, while analysts maintain a consensus Moderate Buy with an average price target near $140.71; the company pays a $0.26 quarterly dividend (≈0.8% yield).

Vanguard Group Inc. lowered its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,790,231 shares of the construction company's stock after selling 200,328 shares during the quarter. Vanguard Group Inc. owned approximately 11.69% of PulteGroup worth $2,672,382,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Beacon Financial Strategies CORP acquired a new stake in shares of PulteGroup during the fourth quarter worth approximately $40,000. Fulcrum Asset Management LLP acquired a new position in shares of PulteGroup in the 3rd quarter worth approximately $47,000. True Wealth Design LLC grew its position in PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company's stock worth $47,000 after acquiring an additional 248 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in PulteGroup by 1,423.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company's stock valued at $52,000 after purchasing an additional 370 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in PulteGroup in the 3rd quarter valued at $54,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 2.7%

Shares of PHM opened at $124.87 on Wednesday. The business's fifty day moving average price is $124.96 and its two-hundred day moving average price is $124.73. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.62 and a beta of 1.33. PulteGroup, Inc. has a 52 week low of $95.20 and a 52 week high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94.

PulteGroup (NYSE:PHM - Get Free Report) last released 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). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the firm earned $2.57 EPS. The company's revenue was down 12.4% compared to the same quarter last year. On average, analysts predict that PulteGroup, Inc. will post 10.06 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, March 17th. PulteGroup's payout ratio is currently 10.06%.

PulteGroup announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Oppenheimer reissued an "outperform" rating and issued a $149.00 price objective (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Seaport Research Partners reaffirmed a "sell" rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Citigroup upped their price target on shares of PulteGroup from $136.00 to $138.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. UBS Group increased their price objective on shares of PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a report on Friday. Finally, Evercore raised their price objective 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 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

Insider Activity at PulteGroup

In other news, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction that occurred 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 completion of the sale, the insider owned 659,392 shares in the company, valued at $88,266,213.12. The trade was a 14.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew William Koart sold 15,309 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the sale, the chief operating officer directly owned 42,418 shares of the company's stock, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 149,952 shares of company stock worth $20,162,165. Insiders own 0.75% of the company's stock.

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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