Nykredit A S Invests $7.96 Million in PulteGroup, Inc. $PHM

Key Points

• Nykredit A/S purchased 58,034 PulteGroup shares worth approximately $7.96 million during the second quarter. Institutional investors and hedge funds collectively own 89.9% of PHM.
• PulteGroup reported quarterly EPS of $2.48, exceeding the $2.36 analyst consensus, while revenue reached $3.98 billion but declined 9.6% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $140.93 price target. The company also announced a quarterly dividend of $0.26 per share, representing a 0.9% yield.

Nykredit A S purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 58,034 shares of the construction company's stock, valued at approximately $7,963,000.

A number of other institutional investors have also recently made changes to their positions in PHM. Franklin Resources Inc. boosted its stake in PulteGroup by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company's stock worth $1,589,495,000 after purchasing an additional 655,033 shares during the last quarter. First Trust Advisors LP raised its position in shares of PulteGroup by 7.8% in the first quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company's stock valued at $507,428,000 after buying an additional 313,581 shares during the last quarter. Norges Bank purchased a new position in shares of PulteGroup in the fourth quarter worth about $466,653,000. Dimensional Fund Advisors LP lifted its stake in shares of PulteGroup by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company's stock worth $370,008,000 after buying an additional 26,790 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in PulteGroup by 4.3% during the first quarter. Bank of America Corp DE now owns 1,963,175 shares of the construction company's stock worth $230,889,000 after acquiring an additional 80,352 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $119.05 on Tuesday. The firm has a market cap of $22.32 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52 week low of $108.49 and a 52 week high of $144.49. The business's fifty day simple moving average is $126.29 and its 200-day simple moving average is $123.54.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the company earned $3.03 EPS. The company's quarterly revenue was down 9.6% on a year-over-year basis. Equities analysts forecast that PulteGroup, Inc. will post 10.07 earnings per share for the current year.

PulteGroup Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently issued reports on PHM. Wells Fargo & Company dropped their price objective on shares of PulteGroup from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Friday, September 11th. Truist Financial decreased their target price on shares of PulteGroup from $145.00 to $136.00 and set a "buy" rating on the stock in a research note on Wednesday, September 16th. Citigroup restated a "market outperform" rating on shares of PulteGroup in a report on Tuesday, August 18th. Weiss Ratings upgraded PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Finally, UBS Group reaffirmed a "buy" rating and issued a $166.00 price target on shares of PulteGroup in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and a consensus price target of $140.93.

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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