Swiss National Bank Trims Stock Position in PulteGroup, Inc. (NYSE:PHM)

Swiss National Bank reduced its holdings in PulteGroup, Inc. (NYSE:PHMFree Report) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 719,000 shares of the construction company’s stock after selling 91,100 shares during the period. Swiss National Bank owned about 0.33% of PulteGroup worth $53,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. PGGM Investments lifted its holdings in PulteGroup by 14.9% during the third quarter. PGGM Investments now owns 158,404 shares of the construction company’s stock valued at $11,730,000 after purchasing an additional 20,564 shares in the last quarter. Amalgamated Bank raised its position in shares of PulteGroup by 32.3% in the third quarter. Amalgamated Bank now owns 97,187 shares of the construction company’s stock valued at $7,197,000 after buying an additional 23,718 shares during the last quarter. Banco Santander S.A. acquired a new stake in shares of PulteGroup in the third quarter valued at about $446,000. Great Lakes Advisors LLC raised its position in shares of PulteGroup by 2.0% in the third quarter. Great Lakes Advisors LLC now owns 335,844 shares of the construction company’s stock valued at $24,869,000 after buying an additional 6,583 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in PulteGroup during the third quarter worth about $310,000. 89.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PHM shares. Barclays increased their target price on shares of PulteGroup from $120.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Raymond James lifted their price target on shares of PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday. Wedbush reissued a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a report on Wednesday, January 31st. Finally, Jefferies Financial Group began coverage on shares of PulteGroup in a report on Monday, November 27th. They set a “buy” rating and a $107.00 price objective on the stock. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.31.

Get Our Latest Stock Report on PulteGroup

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Trading Down 1.7 %

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

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

PulteGroup Announces Dividend

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

PulteGroup announced that its board has initiated a share buyback program on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

About PulteGroup

(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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