Toronto Dominion Bank Acquires 16,559 Shares of PulteGroup, Inc. (NYSE:PHM)

Posted by Defense World Staff on May 8th, 2023

Toronto Dominion Bank grew its holdings in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,112 shares of the construction company’s stock after acquiring an additional 16,559 shares during the period. Toronto Dominion Bank owned 0.06% of PulteGroup worth $5,783,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PHM. General Partner Inc. bought a new stake in PulteGroup in the fourth quarter worth approximately $32,000. Accurate Wealth Management LLC bought a new stake in PulteGroup in the fourth quarter worth approximately $47,000. International Assets Investment Management LLC bought a new stake in shares of PulteGroup during the 4th quarter worth $60,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of PulteGroup during the 4th quarter worth $61,000. Finally, Zions Bancorporation N.A. boosted its holdings in shares of PulteGroup by 115.2% during the 1st quarter. Zions Bancorporation N.A. now owns 1,595 shares of the construction company’s stock worth $67,000 after buying an additional 854 shares during the period. 88.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BTIG Research upped their price objective on shares of PulteGroup from $68.00 to $83.00 in a report on Wednesday, April 26th. KeyCorp upped their price objective on shares of PulteGroup from $51.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Wolfe Research raised shares of PulteGroup from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a report on Wednesday, March 22nd. JPMorgan Chase & Co. upped their price objective on shares of PulteGroup from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Finally, Royal Bank of Canada upped their target price on shares of PulteGroup from $54.00 to $68.00 in a research note on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.86.

Insider Activity

In other news, CFO Robert Oshaughnessy sold 115,102 shares of PulteGroup stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $66.90, for a total value of $7,700,323.80. Following the sale, the chief financial officer now directly owns 177,564 shares in the company, valued at $11,879,031.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PulteGroup news, EVP Todd N. Sheldon sold 15,998 shares of PulteGroup stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $53.83, for a total transaction of $861,172.34. Following the completion of the transaction, the executive vice president now directly owns 82,339 shares of the company’s stock, valued at $4,432,308.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Oshaughnessy sold 115,102 shares of PulteGroup stock in a transaction on Friday, April 28th. The stock was sold at an average price of $66.90, for a total transaction of $7,700,323.80. Following the transaction, the chief financial officer now directly owns 177,564 shares of the company’s stock, valued at $11,879,031.60. The disclosure for this sale can be found here. Insiders have sold 273,917 shares of company stock worth $17,650,743 over the last ninety days. Insiders own 0.83% of the company’s stock.

PulteGroup Stock Up 1.0 %

PulteGroup stock opened at $67.02 on Monday. The company’s 50 day simple moving average is $58.87 and its 200 day simple moving average is $51.33. PulteGroup, Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $67.40. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 0.48 and a beta of 1.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.70 and a quick ratio of 0.70.

PulteGroup (NYSE:PHM – Get Rating) last announced its earnings results on Tuesday, April 25th. The construction company reported $2.35 EPS for the quarter, topping the consensus estimate of $1.78 by $0.57. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.27 billion. PulteGroup had a net margin of 16.22% and a return on equity of 31.03%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 8.78 EPS for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Tuesday, June 20th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 16th. This represents a $0.64 annualized dividend and a yield of 0.95%. PulteGroup’s dividend payout ratio (DPR) is currently 5.51%.

PulteGroup announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.