Swiss National Bank Sells 91,100 Shares of PulteGroup, Inc. (NYSE:PHM)

Swiss National Bank decreased its position in shares of PulteGroup, Inc. (NYSE:PHMFree Report) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 719,000 shares of the construction company’s stock after selling 91,100 shares during the quarter. Swiss National Bank owned approximately 0.33% of PulteGroup worth $53,242,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in PulteGroup by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock worth $1,162,667,000 after purchasing an additional 261,934 shares during the period. BlackRock Inc. increased its position in PulteGroup by 10.8% during the second quarter. BlackRock Inc. now owns 20,885,474 shares of the construction company’s stock valued at $1,622,384,000 after acquiring an additional 2,030,200 shares during the last quarter. State Street Corp increased its position in PulteGroup by 2.3% in the first quarter. State Street Corp now owns 10,343,160 shares of the construction company’s stock worth $604,439,000 after buying an additional 228,040 shares in the last quarter. First Trust Advisors LP increased its position in PulteGroup by 29.4% in the first quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after buying an additional 1,101,565 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of PulteGroup by 18.5% in the fourth quarter. Morgan Stanley now owns 3,745,286 shares of the construction company’s stock worth $170,523,000 after acquiring an additional 585,199 shares during the period. Institutional investors own 89.84% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on PulteGroup from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. UBS Group downgraded PulteGroup from a “buy” rating to a “neutral” rating and increased their price target for the stock from $93.00 to $120.00 in a report on Thursday, January 4th. Raymond James raised their price objective on PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday. Wells Fargo & Company increased their target price on PulteGroup from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, November 8th. Finally, Royal Bank of Canada boosted their target price on PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $102.31.

Check Out Our Latest Report on PHM

PulteGroup Stock Performance

Shares of PHM stock opened at $102.57 on Wednesday. The stock has a market cap of $22.11 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.69 and a beta of 1.56. PulteGroup, Inc. has a 52-week low of $52.24 and a 52-week high of $110.75. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $101.45 and a 200-day simple moving average of $87.03.

PulteGroup (NYSE:PHMGet Free Report) last announced its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.63 earnings per share. On average, equities analysts expect that PulteGroup, Inc. will post 11.92 EPS for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.78%. PulteGroup’s dividend payout ratio (DPR) is presently 6.81%.

PulteGroup announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the transaction, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.83% of the company’s stock.

PulteGroup Company Profile

(Free Report)

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, American West, and John Wieland Homes and Neighborhoods brand names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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