PulteGroup, Inc. $PHM Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in PulteGroup, Inc. by 5.5% in the second quarter, owning a total of 590,327 shares valued at approximately $62.26 million.
• PulteGroup reported an EPS of $3.03 in its latest quarterly earnings, surpassing analyst expectations, though its revenue was down 4.3% year-over-year at $4.40 billion.
• The company declared a quarterly dividend of $0.22 to be paid on October 2nd, representing an annual yield of 0.7% and a dividend payout ratio of 6.58%.

Swedbank AB lifted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 590,327 shares of the construction company's stock after purchasing an additional 30,990 shares during the quarter. Swedbank AB owned 0.29% of PulteGroup worth $62,256,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Tocqueville Asset Management L.P. lifted its position in PulteGroup by 2.0% in the first quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company's stock worth $520,000 after buying an additional 100 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of PulteGroup by 15.9% during the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock worth $93,000 after purchasing an additional 125 shares during the last quarter. Signaturefd LLC increased its stake in shares of PulteGroup by 1.9% during the first quarter. Signaturefd LLC now owns 6,644 shares of the construction company's stock valued at $683,000 after buying an additional 127 shares during the period. McGlone Suttner Wealth Management Inc. increased its stake in shares of PulteGroup by 6.3% during the first quarter. McGlone Suttner Wealth Management Inc. now owns 2,234 shares of the construction company's stock valued at $230,000 after buying an additional 133 shares during the period. Finally, Kathmere Capital Management LLC increased its stake in shares of PulteGroup by 2.8% during the first quarter. Kathmere Capital Management LLC now owns 5,202 shares of the construction company's stock valued at $535,000 after buying an additional 140 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PHM shares. UBS Group lifted their target price on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price target on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $136.46.

PulteGroup Price Performance

Shares of PHM stock traded down $2.65 during trading hours on Monday, hitting $129.25. 2,172,513 shares of the company's stock were exchanged, compared to its average volume of 2,087,894. 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 fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a market cap of $25.50 billion, a P/E ratio of 9.66, a P/E/G ratio of 0.39 and a beta of 1.26. The firm has a 50 day moving average of $125.86 and a two-hundred day moving average of $110.50.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $4.42 billion. During the same period in the previous year, the business earned $3.83 earnings per share. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

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

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.