Retirement Systems of Alabama Lowers Position in PulteGroup, Inc. (NYSE:PHM)

Retirement Systems of Alabama cut its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 80.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,508 shares of the construction company's stock after selling 177,272 shares during the period. Retirement Systems of Alabama's holdings in PulteGroup were worth $4,473,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of brokerages recently commented on PHM. Wedbush reaffirmed an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a research report on Tuesday, April 22nd. Royal Bank Of Canada decreased their target price on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI upped their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Barclays decreased 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.69.

PulteGroup Trading Down 1.9%

Shares of NYSE PHM traded down $1.97 during midday trading on Wednesday, reaching $103.52. The company had a trading volume of 1,667,590 shares, compared to its average volume of 2,018,360. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm's fifty day moving average price is $100.99 and its 200-day moving average price is $105.42. The stock has a market cap of $20.75 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 0.30 and a beta of 1.29. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

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

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.85%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is currently 6.21%.

PulteGroup Company 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.