PulteGroup, Inc. $PHM Stake Lowered by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 1.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 150,064 shares of the construction company’s stock after selling 2,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in PulteGroup were worth $15,854,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PHM. WPG Advisers LLC purchased a new position in shares of PulteGroup during the 1st quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of PulteGroup during the 1st quarter valued at $54,000. Quarry LP grew its holdings in shares of PulteGroup by 43.8% during the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after acquiring an additional 174 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of PulteGroup by 46.2% during the 1st quarter. Grove Bank & Trust now owns 760 shares of the construction company’s stock valued at $78,000 after acquiring an additional 240 shares in the last quarter. Finally, Reyes Financial Architecture Inc. lifted its stake in shares of PulteGroup by 42.1% in the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock valued at $79,000 after purchasing an additional 228 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PHM has been the subject of several analyst reports. 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. Evercore ISI set a $154.00 price objective on shares of PulteGroup and gave the company an “in-line” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Royal Bank Of Canada lifted their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average target price of $136.46.

PulteGroup Stock Down 1.6%

PulteGroup stock opened at $127.51 on Thursday. The firm has a market cap of $25.16 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 0.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a fifty day moving average price of $130.29 and a two-hundred day moving average price of $112.72.

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

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. 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.