Natixis Advisors L.P. Lowers Stake in PulteGroup, Inc. (NYSE:PHM)

Posted by Defense World Staff on Apr 12th, 2023

Natixis Advisors L.P. lowered its position in shares of PulteGroup, Inc. (NYSE:PHM – Get Rating) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 323,384 shares of the construction company’s stock after selling 10,873 shares during the quarter. Natixis Advisors L.P. owned 0.14% of PulteGroup worth $14,723,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PHM. Private Trust Co. NA purchased a new position in PulteGroup during the second quarter valued at approximately $29,000. General Partner Inc. bought a new stake in PulteGroup during the 4th quarter valued at approximately $32,000. Accurate Wealth Management LLC bought a new stake in PulteGroup during the 4th quarter valued at approximately $47,000. Zions Bancorporation N.A. raised its stake in PulteGroup by 115.2% during the 1st quarter. Zions Bancorporation N.A. now owns 1,595 shares of the construction company’s stock valued at $67,000 after purchasing an additional 854 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in PulteGroup by 17.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,749 shares of the construction company’s stock valued at $73,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other PulteGroup news, EVP Todd N. Sheldon sold 15,998 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $53.83, for a total value of $861,172.34. Following the transaction, the executive vice president now directly owns 82,339 shares in the company, valued at approximately $4,432,308.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Brien P. O’meara sold 4,924 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total value of $295,440.00. Following the completion of the sale, the vice president now directly owns 17,308 shares of the company’s stock, valued at $1,038,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Todd N. Sheldon sold 15,998 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $53.83, for a total transaction of $861,172.34. Following the completion of the sale, the executive vice president now directly owns 82,339 shares of the company’s stock, valued at $4,432,308.37. The disclosure for this sale can be found here. Insiders have sold 50,739 shares of company stock worth $2,845,149 in the last three months. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on PulteGroup in a research report on Thursday, March 16th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their price objective on PulteGroup from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. The Goldman Sachs Group raised their price objective on PulteGroup from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 12th. Royal Bank of Canada raised their price objective on PulteGroup from $46.00 to $54.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 1st. Finally, Oppenheimer increased their price objective on shares of PulteGroup from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.86.

PulteGroup Trading Up 2.5 %

Shares of NYSE PHM opened at $59.76 on Wednesday. PulteGroup, Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $60.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 0.48 and a beta of 1.33. The business’s 50 day moving average price is $56.07 and its 200-day moving average price is $48.19.

PulteGroup (NYSE:PHM – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The construction company reported $3.63 EPS for the quarter, beating the consensus estimate of $2.88 by $0.75. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.59 billion. PulteGroup had a return on equity of 31.85% and a net margin of 16.13%. PulteGroup’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.51 EPS. On average, sell-side analysts expect that PulteGroup, Inc. will post 7.52 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 4th. Shareholders of record on Monday, March 20th were given a $0.16 dividend. The ex-dividend date was Friday, March 17th. This represents a $0.64 annualized dividend and a yield of 1.07%. PulteGroup’s dividend payout ratio (DPR) is 5.77%.

PulteGroup Profile

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PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.