Sterling Capital Management LLC Sells 5,477 Shares of PulteGroup, Inc. $PHM

Sterling Capital Management LLC lowered its position in PulteGroup, Inc. (NYSE:PHM) by 28.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,472 shares of the construction company’s stock after selling 5,477 shares during the period. Sterling Capital Management LLC’s holdings in PulteGroup were worth $1,584,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its stake in shares of PulteGroup by 18.3% in the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock worth $57,000 after buying an additional 75 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after acquiring an additional 78 shares during the period. Stephens Inc. AR lifted its holdings in PulteGroup by 3.5% during the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after acquiring an additional 80 shares during the period. Perigon Wealth Management LLC boosted its position in PulteGroup by 3.6% in the fourth quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock worth $313,000 after purchasing an additional 92 shares during the last quarter. Finally, Opal Wealth Advisors LLC boosted its position in PulteGroup by 4.8% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock worth $254,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PHM. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. UBS Group boosted their price target on shares of PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Evercore increased 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. The Goldman Sachs Group raised their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $140.71.

Insider Activity

In related news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by company insiders.

PulteGroup Stock Performance

Shares of PHM opened at $137.76 on Tuesday. PulteGroup, Inc. has a 1 year low of $104.04 and a 1 year high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s fifty day moving average price is $121.69 and its two-hundred day moving average price is $124.40. The firm has a market cap of $26.24 billion, a PE ratio of 13.32, a PEG ratio of 1.75 and a beta of 1.20.

PulteGroup (NYSE:PHM) last posted its quarterly 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). 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 company posted $2.57 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts forecast that PulteGroup, Inc. will post 9.95 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

PulteGroup announced that its board has authorized a share buyback program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 6.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.