State of New Jersey Common Pension Fund D Boosts Stock Position in PulteGroup, Inc. (NYSE:PHM)

State of New Jersey Common Pension Fund D boosted its stake in shares of PulteGroup, Inc. (NYSE:PHMFree Report) by 2.1% in the 3rd quarter, Holdings Channel reports. The fund owned 122,118 shares of the construction company’s stock after buying an additional 2,550 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PulteGroup were worth $9,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV raised its position in PulteGroup by 12.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,322 shares of the construction company’s stock valued at $103,000 after acquiring an additional 150 shares in the last quarter. Friedenthal Financial increased its position in shares of PulteGroup by 1.6% in the third quarter. Friedenthal Financial now owns 10,132 shares of the construction company’s stock valued at $750,000 after buying an additional 158 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of PulteGroup by 1.0% in the second quarter. Cetera Advisor Networks LLC now owns 16,395 shares of the construction company’s stock valued at $1,274,000 after buying an additional 164 shares in the last quarter. Private Trust Co. NA increased its position in shares of PulteGroup by 25.0% in the third quarter. Private Trust Co. NA now owns 859 shares of the construction company’s stock valued at $64,000 after buying an additional 172 shares in the last quarter. Finally, Advisor Partners II LLC increased its position in shares of PulteGroup by 1.5% in the third quarter. Advisor Partners II LLC now owns 11,998 shares of the construction company’s stock valued at $888,000 after buying an additional 182 shares in the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

NYSE PHM opened at $103.10 on Monday. The stock’s fifty day moving average is $102.29 and its two-hundred day moving average is $87.48. The firm has a market capitalization of $21.87 billion, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 0.70 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $110.75.

PulteGroup (NYSE:PHMGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating the consensus estimate of $3.21 by $0.07. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the prior year, the company posted $3.63 EPS. The company’s quarterly revenue was down 15.5% on a year-over-year basis. On average, research analysts anticipate that PulteGroup, Inc. will post 11.72 earnings per share for the current year.

PulteGroup announced that its Board of Directors has initiated a stock buyback program on Tuesday, January 30th that allows the company to buyback $1.50 billion in outstanding 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 typically a sign that the company’s board believes its shares are undervalued.

PulteGroup Dividend Announcement

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

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PHM shares. The Goldman Sachs Group boosted their price objective on PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. cut their price objective on PulteGroup from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Wells Fargo & Company boosted their price target on PulteGroup from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 8th. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, UBS Group cut PulteGroup from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.31.

Check Out Our Latest Report on PulteGroup

PulteGroup 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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