Public Sector Pension Investment Board Acquires 800 Shares of PulteGroup, Inc. (NYSE:PHM)

Public Sector Pension Investment Board increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,617 shares of the construction company’s stock after buying an additional 800 shares during the quarter. Public Sector Pension Investment Board’s holdings in PulteGroup were worth $1,237,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. CX Institutional boosted its stake in shares of PulteGroup by 127.0% in the 2nd quarter. CX Institutional now owns 3,603 shares of the construction company’s stock valued at $397,000 after purchasing an additional 2,016 shares in the last quarter. OLD National Bancorp IN boosted its holdings in shares of PulteGroup by 26.9% during the 2nd quarter. OLD National Bancorp IN now owns 3,162 shares of the construction company’s stock valued at $348,000 after acquiring an additional 670 shares in the last quarter. Peak Financial Advisors LLC grew its position in PulteGroup by 0.9% during the 2nd quarter. Peak Financial Advisors LLC now owns 25,946 shares of the construction company’s stock worth $2,857,000 after acquiring an additional 241 shares during the last quarter. Czech National Bank increased its holdings in PulteGroup by 7.4% in the 2nd quarter. Czech National Bank now owns 40,083 shares of the construction company’s stock worth $4,413,000 after purchasing an additional 2,762 shares in the last quarter. Finally, Coastline Trust Co bought a new position in PulteGroup in the second quarter valued at about $1,506,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Price Performance

PulteGroup stock opened at $126.75 on Friday. The stock’s 50 day moving average price is $135.06 and its two-hundred day moving average price is $126.85. The stock has a market capitalization of $25.99 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup, Inc. has a 52-week low of $92.49 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the company posted $2.90 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio is 5.90%.

Wall Street Analysts Forecast Growth

PHM has been the topic of several research reports. UBS Group boosted their price target on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Evercore ISI cut their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Finally, BTIG Research lifted their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Profile

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, John Wieland Homes and Neighborhoods, and American West brand names.