Livforsakringsbolaget Skandia Omsesidigt Decreases Stake in PulteGroup, Inc. $PHM

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 80.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,452 shares of the construction company’s stock after selling 63,500 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PulteGroup were worth $1,630,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PHM. ProShare Advisors LLC boosted its position in shares of PulteGroup by 10.3% during the 4th quarter. ProShare Advisors LLC now owns 41,946 shares of the construction company’s stock worth $4,568,000 after purchasing an additional 3,918 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of PulteGroup by 48.1% during the 4th quarter. Toronto Dominion Bank now owns 110,044 shares of the construction company’s stock worth $11,984,000 after purchasing an additional 35,730 shares in the last quarter. State of Wyoming boosted its position in shares of PulteGroup by 739.7% during the 4th quarter. State of Wyoming now owns 4,341 shares of the construction company’s stock worth $473,000 after purchasing an additional 3,824 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of PulteGroup during the 4th quarter worth $3,110,000. Finally, Two Sigma Advisers LP acquired a new position in shares of PulteGroup during the 4th quarter worth $915,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PHM has been the subject of several research reports. Citigroup lifted their price target on PulteGroup from $128.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Royal Bank Of Canada lifted their price target on PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price target on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.46.

PulteGroup Stock Down 0.6%

Shares of NYSE:PHM opened at $133.99 on Wednesday. The stock has a market capitalization of $26.44 billion, a P/E ratio of 10.01, a PEG ratio of 0.40 and a beta of 1.27. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The stock has a 50-day simple moving average of $124.40 and a 200-day simple moving average of $109.72. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.PulteGroup’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.83 EPS. Equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be 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 is Tuesday, September 16th. PulteGroup’s dividend payout ratio is currently 6.58%.

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.