Swedbank AB Reduces Position in PulteGroup, Inc. (NYSE:PHM)

Swedbank AB lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 564,197 shares of the construction company’s stock after selling 10,077 shares during the quarter. Swedbank AB’s holdings in PulteGroup were worth $61,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PHM. Thrivent Financial for Lutherans boosted its stake in shares of PulteGroup by 23.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 18,364 shares of the construction company’s stock worth $2,022,000 after acquiring an additional 3,446 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of PulteGroup by 61.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,817 shares of the construction company’s stock valued at $861,000 after buying an additional 2,970 shares in the last quarter. Ascent Group LLC lifted its stake in shares of PulteGroup by 34.2% during the 2nd quarter. Ascent Group LLC now owns 4,188 shares of the construction company’s stock valued at $461,000 after buying an additional 1,068 shares in the last quarter. Algert Global LLC purchased a new position in shares of PulteGroup during the 2nd quarter valued at $334,000. Finally, NewEdge Advisors LLC lifted its stake in shares of PulteGroup by 14.4% during the 2nd quarter. NewEdge Advisors LLC now owns 33,622 shares of the construction company’s stock valued at $3,702,000 after buying an additional 4,229 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $112.90 on Thursday. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.46 and a beta of 1.67. PulteGroup, Inc. has a 12 month low of $100.24 and a 12 month high of $149.47. The firm’s 50-day moving average is $118.53 and its 200 day moving average is $127.58. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.78%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup’s dividend payout ratio is presently 6.49%.

Analysts Set New Price Targets

PHM has been the topic of a number of analyst reports. BTIG Research lifted their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Seaport Res Ptn cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Citigroup decreased their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.29.

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.