PulteGroup, Inc. $PHM Stake Cut by Forsta AP Fonden

Forsta AP Fonden cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 87,500 shares of the construction company’s stock after selling 1,500 shares during the period. Forsta AP Fonden’s holdings in PulteGroup were worth $9,228,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. National Pension Service increased its holdings in shares of PulteGroup by 0.5% in the 2nd quarter. National Pension Service now owns 455,767 shares of the construction company’s stock worth $48,065,000 after acquiring an additional 2,287 shares during the period. Vise Technologies Inc. bought a new position in PulteGroup in the 2nd quarter worth about $1,383,000. Allworth Financial LP increased its stake in shares of PulteGroup by 258.3% in the second quarter. Allworth Financial LP now owns 8,804 shares of the construction company’s stock valued at $928,000 after purchasing an additional 6,347 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of PulteGroup by 27.4% in the second quarter. Illinois Municipal Retirement Fund now owns 111,637 shares of the construction company’s stock valued at $11,773,000 after purchasing an additional 23,990 shares during the period. Finally, Fidelis Capital Partners LLC raised its holdings in shares of PulteGroup by 1.0% during the second quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after buying an additional 85 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup increased their price objective on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, October 1st. Bank of America reduced their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 10th. Raymond James Financial reissued an “outperform” rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. UBS Group lifted their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of PulteGroup in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $133.67.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $118.59 on Friday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.11. The firm has a market cap of $23.11 billion, a P/E ratio of 9.13, a PEG ratio of 0.95 and a beta of 1.25. The stock has a fifty day moving average price of $127.12 and a two-hundred day moving average price of $116.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the firm posted $3.35 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders 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 is presently 6.77%.

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.