Lombard Odier Asset Management Switzerland SA Makes New $1.11 Million Investment in PulteGroup, Inc. $PHM

Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 9,400 shares of the construction company’s stock, valued at approximately $1,106,000.

A number of other institutional investors also recently modified their holdings of PHM. Cedar Mountain Advisors LLC boosted its holdings in shares of PulteGroup by 1,650.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after buying an additional 198 shares during the period. NFSG Corp bought a new position in PulteGroup in the 1st quarter worth $29,000. Rachor Investment Advisory Services LLC bought a new position in PulteGroup in the 4th quarter worth $31,000. DV Equities LLC acquired a new position in PulteGroup during the 4th quarter worth $32,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of PulteGroup by 158.5% in the first 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 period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 1.3%

Shares of NYSE PHM opened at $130.44 on Tuesday. PulteGroup, Inc. has a 52-week low of $108.49 and a 52-week high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. The business has a fifty day moving average of $124.49 and a two-hundred day moving average of $125.35. The stock has a market cap of $24.45 billion, a PE ratio of 13.32, a PEG ratio of 1.60 and a beta of 1.18.

PulteGroup (NYSE:PHM) last posted its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the company earned $3.03 EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, equities research analysts expect that PulteGroup, Inc. will post 10.08 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is presently 10.62%.

PulteGroup declared that its board has initiated a share buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

PHM has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Citigroup dropped their target price on shares of PulteGroup from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Friday. Evercore reissued an “outperform” rating and issued a $162.00 price target on shares of PulteGroup in a report on Thursday. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Bank of America decreased their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average target price of $143.14.

Insider Buying and Selling at PulteGroup

In related 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 directly owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

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.