Pensionfund Sabic Raises Stock Position in PulteGroup, Inc. (NYSE:PHM)

Pensionfund Sabic grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 71.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,000 shares of the construction company’s stock after purchasing an additional 5,000 shares during the quarter. Pensionfund Sabic’s holdings in PulteGroup were worth $1,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC boosted its stake in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new position in PulteGroup in the 3rd quarter worth approximately $29,000. Candriam S.C.A. bought a new position in PulteGroup in the 2nd quarter worth approximately $33,000. JNBA Financial Advisors purchased a new stake in PulteGroup during the 3rd quarter valued at approximately $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after buying an additional 286 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PHM. UBS Group upped their target price on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush upgraded PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Friday. Bank of America boosted their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company cut their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Oppenheimer decreased their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.29.

PulteGroup Stock Performance

PulteGroup stock opened at $108.77 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $22.31 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67. PulteGroup, Inc. has a 1-year low of $100.24 and a 1-year high of $149.47. The company’s 50-day moving average is $124.17 and its 200 day moving average is $126.99.

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

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.22 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup’s payout ratio is currently 6.49%.

About PulteGroup

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.