Mn Services Vermogensbeheer B.V. Decreases Stock Position in PulteGroup, Inc. $PHM

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in PulteGroup, Inc. by 3.3%, selling 2,600 shares in the second quarter, resulting in a total of 75,400 shares valued at approximately $7.95 million.
• PulteGroup reported $3.03 earnings per share for the recent quarter, exceeding analysts' expectations, despite a 4.3% decrease in revenue year-over-year.
• The company is set to distribute a quarterly dividend of $0.22 on October 2nd, representing an annualized yield of 0.7%.

Mn Services Vermogensbeheer B.V. lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,400 shares of the construction company's stock after selling 2,600 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in PulteGroup were worth $7,952,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Swedbank AB boosted its position in PulteGroup by 5.5% during the second quarter. Swedbank AB now owns 590,327 shares of the construction company's stock worth $62,256,000 after purchasing an additional 30,990 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in PulteGroup by 1.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,101 shares of the construction company's stock valued at $2,436,000 after buying an additional 427 shares in the last quarter. Signal Advisors Wealth LLC boosted its position in PulteGroup by 194.6% in the second quarter. Signal Advisors Wealth LLC now owns 9,208 shares of the construction company's stock valued at $971,000 after buying an additional 6,082 shares in the last quarter. Channel Wealth LLC bought a new position in PulteGroup in the second quarter valued at about $2,246,000. Finally, Aaron Wealth Advisors LLC boosted its stake in shares of PulteGroup by 8.4% during the second quarter. Aaron Wealth Advisors LLC now owns 3,633 shares of the construction company's stock valued at $383,000 after purchasing an additional 281 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PulteGroup stock traded down $2.15 during trading hours on Friday, reaching $131.95. The company had a trading volume of 5,783,612 shares, 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 firm has a market cap of $26.03 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.39 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day simple moving average of $125.53 and a 200 day simple moving average of $110.34.

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. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the firm posted $3.83 EPS. PulteGroup's revenue was down 4.3% on a year-over-year basis. On average, analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on PHM. Wells Fargo & Company raised their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Oppenheimer raised their price objective on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Citigroup lifted their price objective on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $136.46.

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.