41,715 Shares in PulteGroup, Inc. $PHM Bought by SEB Asset Management AB

SEB Asset Management AB bought a new stake in PulteGroup, Inc. (NYSE:PHMFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,715 shares of the construction company’s stock, valued at approximately $4,906,000.

A number of other large investors have also added to or reduced their stakes in the company. Swiss National Bank lifted its stake in PulteGroup by 5.8% during the first quarter. Swiss National Bank now owns 572,100 shares of the construction company’s stock worth $67,285,000 after purchasing an additional 31,500 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of PulteGroup by 230.7% in the 1st quarter. Mediolanum International Funds Ltd now owns 10,171 shares of the construction company’s stock worth $1,157,000 after purchasing an additional 7,095 shares in the last quarter. Spartan Wealth Advisory Services LLC bought a new position in shares of PulteGroup during the 1st quarter valued at about $4,026,000. Kinsale Capital Group Inc. increased its position in shares of PulteGroup by 5.0% during the 1st quarter. Kinsale Capital Group Inc. now owns 72,686 shares of the construction company’s stock valued at $8,549,000 after purchasing an additional 3,450 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of PulteGroup by 4.1% during the 1st quarter. California Public Employees Retirement System now owns 420,701 shares of the construction company’s stock valued at $49,479,000 after buying an additional 16,536 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 1.6%

NYSE PHM opened at $126.27 on Thursday. The firm has a market cap of $24.05 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.58 and a beta of 1.18. PulteGroup, Inc. has a 1-year low of $108.49 and a 1-year high of $144.49. The stock has a 50-day moving average of $123.53 and a 200-day moving average of $125.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHMGet Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.PulteGroup’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the company earned $3.03 EPS. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 9.95 EPS for the current year.

PulteGroup Dividend Announcement

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

PulteGroup announced that its board has authorized a share buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to purchase up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

PHM has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Evercore increased their price target on shares of PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Bank of America decreased their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Finally, Citigroup upped their price objective on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $142.21.

View Our Latest Research Report on PHM

Insider Buying and Selling at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at $3,372,000. This represents a 20.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by insiders.

PulteGroup News Roundup

Here are the key news stories impacting PulteGroup this week:

PulteGroup Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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