PulteGroup, Inc. (NYSE:PHM) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its holdings in PulteGroup, Inc. by 55.6%, selling 51,671 shares and owning a total of 41,179 shares worth approximately $4.23 million.
• PulteGroup's stock price was trading at $117.11, with a market capitalization of $23.11 billion and a 1-year price range between $88.07 and $149.47.
• Investment analysts have raised their price targets for PulteGroup, with several firms giving it "outperform" ratings and a consensus target price of $134.15.

Skandinaviska Enskilda Banken AB publ cut its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 55.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,179 shares of the construction company's stock after selling 51,671 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in PulteGroup were worth $4,233,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in shares of PulteGroup by 2,586.8% during the first 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 last quarter. Assetmark Inc. grew its holdings in shares of PulteGroup by 0.5% during the first quarter. Assetmark Inc. now owns 618,601 shares of the construction company's stock valued at $63,592,000 after purchasing an additional 3,154 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of PulteGroup by 10.5% during the first quarter. Pinnacle Associates Ltd. now owns 19,311 shares of the construction company's stock valued at $1,985,000 after purchasing an additional 1,830 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of PulteGroup by 15.3% during the first quarter. Venturi Wealth Management LLC now owns 18,317 shares of the construction company's stock valued at $1,883,000 after purchasing an additional 2,427 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of PulteGroup by 0.8% during the first quarter. KLP Kapitalforvaltning AS now owns 152,364 shares of the construction company's stock valued at $15,692,000 after purchasing an additional 1,200 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PHM has been the subject of several recent research reports. UBS Group upped their target price on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Oppenheimer increased their price objective on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Barclays decreased their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Evercore ISI increased their price objective on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and an average price target of $134.15.

PulteGroup Price Performance

PHM traded up $3.18 during trading on Friday, reaching $116.10. The stock had a trading volume of 1,015,741 shares, compared to its average volume of 2,179,997. The firm has a market capitalization of $22.91 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.33 and a beta of 1.29. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The stock has a 50 day moving average of $106.55 and a two-hundred day moving average of $105.25.

PulteGroup (NYSE:PHM - Get Free Report) last released 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 return on equity of 21.01% and a net margin of 15.50%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the prior year, the firm posted $3.83 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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.