PulteGroup, Inc. (NYSE:PHM) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,537 shares of the construction company’s stock after selling 12,887 shares during the period. Public Employees Retirement System of Ohio’s holdings in PulteGroup were worth $9,424,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its stake in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock worth $1,300,034,000 after purchasing an additional 683,592 shares during the period. Geode Capital Management LLC boosted its position in shares of PulteGroup by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company’s stock worth $556,465,000 after buying an additional 64,947 shares during the period. Norges Bank acquired a new stake in shares of PulteGroup in the fourth quarter worth $427,562,000. Northern Trust Corp grew its holdings in shares of PulteGroup by 14.9% during the fourth quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company’s stock valued at $264,185,000 after buying an additional 315,148 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PulteGroup by 9.1% during the fourth 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 buying an additional 169,736 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

NYSE PHM opened at $98.23 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $19.69 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. The company has a 50 day moving average price of $100.41 and a two-hundred day moving average price of $109.68. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period in the previous year, the company earned $3.10 earnings per share. As a group, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, June 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.21%.

PulteGroup announced that its board has initiated a share buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PHM. Evercore ISI raised their price objective on PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Barclays decreased their price target on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Wedbush restated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their price target on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.69.

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.