Livforsakringsbolaget Skandia Omsesidigt Has $10.09 Million Stock Position in PulteGroup, Inc. $PHM

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has increased its holdings in PulteGroup, Inc. by 21.0%, owning 95,552 shares worth approximately $10.1 million.
• PulteGroup's quarterly earnings exceeded estimates, posting an EPS of $3.03, while experiencing a 4.3% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.22 per share, indicating a dividend yield of 0.7% and a payout ratio of 6.58%.

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 21.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 95,552 shares of the construction company's stock after buying an additional 16,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in PulteGroup were worth $10,094,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. Nuveen LLC purchased a new stake in shares of PulteGroup during the 1st quarter valued at about $213,092,000. Pacer Advisors Inc. lifted its stake in shares of PulteGroup by 2,586.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock valued at $119,958,000 after purchasing an additional 1,123,471 shares during the period. JPMorgan Chase & Co. increased its position in PulteGroup by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after buying an additional 1,001,290 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of PulteGroup by 219.2% in the 1st quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock valued at $106,820,000 after acquiring an additional 713,534 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in PulteGroup during the 1st quarter valued at about $53,262,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Trading Down 1.6%

NYSE PHM traded down $2.15 during mid-day trading on Friday, reaching $131.95. 5,783,612 shares of the stock were exchanged, compared to its average volume of 1,945,900. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The stock has a market cap of $26.03 billion, a P/E ratio of 9.86, a P/E/G ratio of 0.39 and a beta of 1.27. The stock has a 50 day simple moving average of $125.53 and a 200-day simple moving average of $110.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. PulteGroup's revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.83 EPS. On average, analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 16th. PulteGroup's payout ratio is currently 6.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PHM shares. Citigroup increased their price target on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Raymond James Financial restated an "outperform" rating and issued a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, UBS Group increased their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $136.46.

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.