Sumitomo Mitsui Trust Holdings Inc. Has $61.14 Million Position in PulteGroup, Inc. (NYSE:PHM)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in PulteGroup, Inc. (NYSE:PHM) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 592,290 shares of the construction company’s stock after selling 28,482 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of PulteGroup worth $61,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Coppell Advisory Solutions LLC acquired a new stake in PulteGroup during the 2nd quarter valued at approximately $29,000. ORG Partners LLC boosted its stake in shares of PulteGroup by 3,463.6% in the 4th quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock valued at $40,000 after purchasing an additional 381 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of PulteGroup by 91.5% during the fourth quarter. AdvisorNet Financial Inc now owns 427 shares of the construction company’s stock worth $44,000 after buying an additional 204 shares during the period. Arlington Trust Co LLC bought a new position in PulteGroup during the third quarter worth $33,000. Finally, Clear Street Markets LLC lifted its holdings in PulteGroup by 90.9% in the first quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock valued at $26,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PHM. Citigroup increased their price target on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and boosted their price target for the company from $93.00 to $120.00 in a research note on Thursday, January 4th. Royal Bank of Canada raised their price objective on shares of PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Finally, Raymond James lifted their price objective on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $106.47.

PulteGroup Price Performance

PHM stock opened at $105.96 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day simple moving average of $110.44 and a two-hundred day simple moving average of $97.82. The company has a market capitalization of $22.36 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 52-week low of $61.74 and a 52-week high of $121.07.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. PulteGroup’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.63 earnings per share. Research analysts expect that PulteGroup, Inc. will post 11.79 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.76%. PulteGroup’s payout ratio is 6.81%.

PulteGroup declared that its Board of Directors has authorized a share repurchase program on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by corporate insiders.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.