PulteGroup, Inc. $PHM Shares Bought by Saudi Central Bank

Saudi Central Bank raised its stake in PulteGroup, Inc. (NYSE:PHM) by 86.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,411 shares of the construction company’s stock after acquiring an additional 6,216 shares during the period. Saudi Central Bank’s holdings in PulteGroup were worth $1,840,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Angeles Wealth Management LLC acquired a new position in PulteGroup in the second quarter worth about $203,000. Compass Financial Management LLC acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $73,000. AlphaGrep UK Ltd acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $272,000. Strive Financial Group LLC increased its holdings in shares of PulteGroup by 392.5% in the 2nd quarter. Strive Financial Group LLC now owns 1,965 shares of the construction company’s stock valued at $270,000 after acquiring an additional 1,566 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of PulteGroup in the 2nd quarter valued at approximately $158,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group restated a “buy” rating and set a $166.00 price objective on shares of PulteGroup in a research note on Thursday, July 23rd. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Citigroup restated a “market outperform” rating on shares of PulteGroup in a research report on Tuesday, August 18th. Evercore reaffirmed an “outperform” rating and set a $162.00 price objective on shares of PulteGroup in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada increased their price objective on shares of PulteGroup from $115.00 to $116.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $142.20.

PulteGroup Price Performance

Shares of PHM opened at $120.36 on Wednesday. PulteGroup, Inc. has a 12 month low of $108.49 and a 12 month high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a fifty day moving average price of $128.14 and a 200 day moving average price of $124.74. The company has a market cap of $22.56 billion, a P/E ratio of 12.29, a PEG ratio of 1.54 and a beta of 1.19.

PulteGroup (NYSE:PHM) last posted its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the business posted $3.03 earnings per share. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts forecast that PulteGroup, Inc. will post 10.12 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a $0.26 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is currently 10.62%.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.