Y Intercept Hong Kong Ltd Has $2.73 Million Holdings in PulteGroup, Inc. $PHM

Key Points

• Y Intercept Hong Kong Ltd cut its PulteGroup stake by 60.9% in the first quarter, selling 36,099 shares and leaving it with 23,168 shares worth about $2.73 million.
• Wall Street sentiment remains constructive, with 10 Buy ratings and 7 Hold ratings; the consensus view is Moderate Buy and the average price target is $141.43.
• PulteGroup reported Q1 EPS of $1.79, just below estimates, while revenue came in at $3.41 billion; the company also pays a quarterly dividend of $0.26 and has authorized a $1.5 billion share repurchase program.

Y Intercept Hong Kong Ltd trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 60.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,168 shares of the construction company's stock after selling 36,099 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in PulteGroup were worth $2,725,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Rachor Investment Advisory Services LLC acquired a new position in shares of PulteGroup during the 4th quarter valued at about $31,000. DV Equities LLC acquired a new stake in PulteGroup in the 4th quarter worth approximately $32,000. HHM Wealth Advisors LLC lifted its holdings in PulteGroup by 158.5% in the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in PulteGroup during the fourth quarter worth approximately $33,000. Finally, High Point Wealth Management LLC acquired a new position in PulteGroup during the fourth quarter valued at approximately $38,000. 89.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PHM shares. Truist Financial reduced their price objective on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. Oppenheimer reiterated an "outperform" rating on shares of PulteGroup in a research note on Tuesday, May 26th. Evercore lifted their target price on shares of PulteGroup from $146.00 to $151.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. The Goldman Sachs Group boosted their target price on shares of PulteGroup from $133.00 to $142.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $141.43.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $129.76 on Wednesday. PulteGroup, Inc. has a 1-year low of $107.16 and a 1-year high of $144.49. The firm has a market capitalization of $24.72 billion, a PE ratio of 12.55, a PEG ratio of 1.67 and a beta of 1.18. 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 business's 50 day moving average is $122.29 and its 200-day moving average is $124.71.

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 the consensus estimate of $1.80 by ($0.01). The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. PulteGroup's revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 earnings per share. Sell-side analysts predict that PulteGroup, Inc. will post 9.95 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 16th. PulteGroup's dividend payout ratio is currently 10.06%.

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

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 7,457 shares of the business's stock in a transaction on 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 owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lila Snyder sold 3,339 shares of the company'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 completion of the sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by company insiders.

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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