State Board of Administration of Florida Retirement System Boosts Position in PulteGroup, Inc. (NYSE:PHM)

State Board of Administration of Florida Retirement System lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHMFree Report) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,136 shares of the construction company’s stock after buying an additional 240 shares during the period. State Board of Administration of Florida Retirement System owned about 0.13% of PulteGroup worth $20,744,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in PulteGroup during the fourth quarter worth about $163,931,000. BlackRock Inc. raised its position in shares of PulteGroup by 10.8% during the 2nd quarter. BlackRock Inc. now owns 20,885,474 shares of the construction company’s stock worth $1,622,384,000 after purchasing an additional 2,030,200 shares during the last quarter. First Trust Advisors LP lifted its stake in PulteGroup by 29.4% in the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after buying an additional 1,101,565 shares in the last quarter. Invesco Ltd. grew its holdings in PulteGroup by 36.3% during the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock valued at $152,982,000 after buying an additional 972,310 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in PulteGroup during the 4th quarter valued at $37,289,000. 89.84% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.2 %

Shares of PHM opened at $103.10 on Friday. PulteGroup, Inc. has a twelve month low of $52.24 and a twelve month high of $110.75. 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 current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $102.29 and its 200 day simple moving average is $87.46.

PulteGroup (NYSE:PHMGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period last year, the business posted $3.63 EPS. On average, equities research analysts forecast 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 repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in 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 generally an indication that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were 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 legal filing with the SEC, which is accessible through this hyperlink. 0.83% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on PHM. Wedbush restated a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. UBS Group lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and upped their target price for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Jefferies Financial Group began coverage on shares of PulteGroup in a research note on Monday, November 27th. They set a “buy” rating and a $107.00 price target on the stock. Barclays boosted their price objective on shares of PulteGroup from $120.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, Citigroup lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and raised their target price for the stock from $87.00 to $113.00 in a research report on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $102.31.

Get Our Latest Analysis on PHM

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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