Handelsbanken Fonder AB Reduces Position in PulteGroup, Inc. (NYSE:PHM)

Handelsbanken Fonder AB lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 9.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,368 shares of the construction company's stock after selling 7,653 shares during the quarter. Handelsbanken Fonder AB's holdings in PulteGroup were worth $7,953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameriflex Group Inc. bought a new position in PulteGroup in the 4th quarter worth about $37,000. TD Waterhouse Canada Inc. lifted its holdings in shares of PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after buying an additional 105 shares in the last quarter. American National Bank & Trust bought a new position in shares of PulteGroup in the first quarter valued at approximately $39,000. Quarry LP purchased a new position in PulteGroup during the fourth quarter valued at approximately $43,000. Finally, Sentry Investment Management LLC bought a new stake in PulteGroup during the 1st quarter worth approximately $61,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Down 2.6%

Shares of PHM traded down $2.73 during trading hours on Friday, hitting $101.43. The company had a trading volume of 1,597,599 shares, compared to its average volume of 2,010,321. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $20.33 billion, a PE ratio of 6.89, a price-to-earnings-growth ratio of 0.29 and a beta of 1.29. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company's fifty day moving average price is $99.85 and its two-hundred day moving average price is $107.34.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter last year, the company earned $3.10 earnings per share. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. PulteGroup's payout ratio is currently 6.21%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PHM. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Wedbush reissued an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a research note on Tuesday, April 22nd. UBS Group decreased their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Evercore ISI lifted their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, Barclays reduced their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.69.

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.