Livforsakringsbolaget Skandia Omsesidigt Has $12.71 Million Holdings in PulteGroup, Inc. $PHM

Livforsakringsbolaget Skandia Omsesidigt grew its stake in PulteGroup, Inc. (NYSE:PHM) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,852 shares of the construction company’s stock after acquiring an additional 9,600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PulteGroup were worth $12,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PHM. Focus Partners Wealth raised its position in shares of PulteGroup by 20.5% during the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after acquiring an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in PulteGroup by 197.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after acquiring an additional 804 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in PulteGroup by 12.9% in the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after acquiring an additional 975 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after buying an additional 2,164 shares during the period. Finally, Cerity Partners LLC grew its position in shares of PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after buying an additional 6,240 shares during the period. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Up 0.4%

Shares of NYSE PHM opened at $124.19 on Wednesday. PulteGroup, Inc. has a 52-week low of $107.16 and a 52-week high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $23.66 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.58 and a beta of 1.18. The firm has a 50 day moving average price of $122.40 and a 200 day moving average price of $124.87.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. Analysts expect that PulteGroup, Inc. will post 9.95 EPS for the current year.

PulteGroup declared that its board has authorized a stock buyback plan on Thursday, April 23rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th were given a $0.26 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio is currently 10.06%.

Insider Buying and Selling at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director owned 3,540 shares in the company, valued at approximately $414,817.20. This represents a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of PulteGroup from $112.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday. Bank of America dropped their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group upped their price objective on PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.21.

PulteGroup Company 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.