California State Teachers Retirement System Raises Stock Holdings in PulteGroup, Inc. $PHM

California State Teachers Retirement System raised its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 13,473.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,204,217 shares of the construction company's stock after buying an additional 36,930,125 shares during the period. California State Teachers Retirement System owned about 19.85% of PulteGroup worth $5,104,791,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PHM. Norges Bank bought a new position in shares of PulteGroup during the fourth quarter valued at about $466,653,000. Price T Rowe Associates Inc. MD grew its stake in shares of PulteGroup by 126.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company's stock worth $502,366,000 after purchasing an additional 2,392,580 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of PulteGroup in the second quarter worth about $189,931,000. Public Sector Pension Investment Board increased its holdings in PulteGroup by 5,485.0% during the 4th quarter. Public Sector Pension Investment Board now owns 930,622 shares of the construction company's stock valued at $109,125,000 after purchasing an additional 913,959 shares during the period. Finally, Franklin Resources Inc. increased its holdings in PulteGroup by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company's stock valued at $1,589,495,000 after purchasing an additional 655,033 shares during the period. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

Shares of PHM opened at $118.92 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. PulteGroup, Inc. has a one year low of $108.49 and a one year high of $144.49. The company has a 50-day simple moving average of $127.86 and a two-hundred day simple moving average of $124.59. The firm has a market capitalization of $22.29 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the business earned $3.03 EPS. The business's revenue for the quarter was down 9.6% on a year-over-year basis. On average, analysts anticipate that PulteGroup, Inc. will post 10.12 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup's payout ratio is currently 10.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group reiterated a "buy" rating and issued a $166.00 price objective on shares of PulteGroup in a report on Thursday, July 23rd. Benchmark raised PulteGroup to a "strong-buy" rating in a research note on Thursday, September 3rd. Oppenheimer restated an "outperform" rating on shares of PulteGroup in a report on Tuesday, May 26th. Wells Fargo & Company raised their price target on PulteGroup from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Finally, Wolfe Research set a $129.00 price target on shares of PulteGroup and gave the company an "outperform" rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.20.

PulteGroup Profile

PulteGroup, Inc is a U.S. homebuilding company that designs, constructs and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its residential offerings include single-family homes, townhomes and communities in a variety of price ranges and styles.

The company operates through several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West Homes. Its communities are located across numerous metropolitan areas and regions in the United States, with operations spanning markets in the South, Southeast, Southwest, Midwest and West.

PulteGroup also provides mortgage lending and related title services to support home purchases through its financial-services operations.

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