Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Position in PulteGroup, Inc. $PHM

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 7.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 45,707 shares of the construction company’s stock after acquiring an additional 3,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in PulteGroup were worth $4,820,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PHM. Nuveen LLC purchased a new stake in PulteGroup during the 1st quarter valued at $213,092,000. Pacer Advisors Inc. boosted its stake in PulteGroup by 2,586.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company’s stock valued at $119,958,000 after purchasing an additional 1,123,471 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in PulteGroup by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after purchasing an additional 1,001,290 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in PulteGroup by 219.2% during the 1st quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company’s stock valued at $106,820,000 after purchasing an additional 713,534 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in PulteGroup during the 1st quarter valued at $53,262,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on PHM. Wells Fargo & Company increased their target price on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada increased their target price on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Price Performance

NYSE PHM opened at $119.02 on Friday. The business’s fifty day moving average price is $129.71 and its 200-day moving average price is $115.25. The stock has a market capitalization of $23.20 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.95 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $142.11.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the firm earned $3.35 EPS. PulteGroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s dividend payout ratio (DPR) is currently 6.77%.

About PulteGroup

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.