Swedbank AB Sells 4,860 Shares of PulteGroup, Inc. $PHM

Key Points

• Swedbank AB reduced its stake in PulteGroup, Inc. by selling 4,860 shares, resulting in a total holding of approximately 559,337 shares valued at $57.5 million.
• PulteGroup's recent financial results show an EPS of $3.03, beating estimates, and total revenue of $4.40 billion, slightly below expectations.
• The company announced a quarterly dividend of $0.22 per share, representing a yield of 0.6% and a payout ratio of 6.58%.

Swedbank AB cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,337 shares of the construction company's stock after selling 4,860 shares during the quarter. Swedbank AB owned approximately 0.28% of PulteGroup worth $57,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in PulteGroup by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after buying an additional 1,001,290 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of PulteGroup by 11.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company's stock valued at $264,216,000 after acquiring an additional 271,917 shares during the period. Nuveen LLC bought a new position in shares of PulteGroup in the 1st quarter valued at about $213,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PulteGroup by 9.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock valued at $221,478,000 after acquiring an additional 169,736 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of PulteGroup by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company's stock valued at $162,403,000 after acquiring an additional 276,077 shares during the period. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

Shares of PHM stock opened at $137.15 on Friday. The company has a market capitalization of $27.06 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.41 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The company has a 50-day simple moving average of $123.37 and a 200 day simple moving average of $109.25. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its 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. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. PulteGroup's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.83 EPS. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders 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 yield of 0.6%. PulteGroup's payout ratio is currently 6.58%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PHM shares. Oppenheimer lifted their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Wedbush reissued an "outperform" rating and issued a $150.00 price objective on shares of PulteGroup in a research report on Wednesday, August 13th. UBS Group lifted their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. One 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. According to MarketBeat, PulteGroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.46.

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.

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