New York State Teachers Retirement System Sells 16,268 Shares of PulteGroup, Inc. (NYSE:PHM)

New York State Teachers Retirement System cut its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,354 shares of the construction company's stock after selling 16,268 shares during the period. New York State Teachers Retirement System owned about 0.12% of PulteGroup worth $24,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in PulteGroup in the 4th quarter worth $37,000. TD Waterhouse Canada Inc. lifted its position 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 valued at $38,000 after acquiring an additional 105 shares in the last quarter. American National Bank & Trust purchased a new position in shares of PulteGroup in the first quarter valued at about $39,000. Quarry LP bought a new position in shares of PulteGroup in the fourth quarter worth about $43,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of PulteGroup during the first quarter worth about $61,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms 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. UBS Group reduced their price objective on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada dropped their target price on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Finally, Evercore ISI increased their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.69.

PulteGroup Price Performance

Shares of NYSE:PHM traded down $2.07 on Thursday, reaching $109.27. The company's stock had a trading volume of 1,616,063 shares, compared to its average volume of 2,027,601. The company has a 50-day simple moving average of $102.25 and a 200 day simple moving average of $104.87. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $21.90 billion, a P/E ratio of 7.71, a PEG ratio of 0.32 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. During the same quarter last year, the firm earned $3.10 EPS. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Tuesday, June 17th. PulteGroup's payout ratio is 6.21%.

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.