Avanza Fonder AB Has $2.38 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Avanza Fonder AB lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,842 shares of the construction company’s stock after selling 130 shares during the quarter. Avanza Fonder AB’s holdings in PulteGroup were worth $2,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC increased its position in PulteGroup by 20.5% in the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company’s stock worth $1,582,000 after purchasing an additional 2,613 shares during the period. Hudson Capital Management LLC boosted its stake in shares of PulteGroup by 8.6% in the 1st quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company’s stock valued at $4,246,000 after purchasing an additional 3,266 shares during the last quarter. Vest Financial LLC grew its position in shares of PulteGroup by 1,311.3% during the 1st quarter. Vest Financial LLC now owns 312,723 shares of the construction company’s stock worth $32,148,000 after buying an additional 290,564 shares during the period. NBC Securities Inc. raised its stake in shares of PulteGroup by 103,800.0% during the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company’s stock worth $534,000 after buying an additional 5,190 shares during the last quarter. Finally, Argyle Capital Management LLC raised its stake in shares of PulteGroup by 1.5% during the fourth quarter. Argyle Capital Management LLC now owns 42,241 shares of the construction company’s stock worth $4,600,000 after buying an additional 641 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

PHM opened at $103.34 on Thursday. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 0.29 and a beta of 1.29. The business’s 50-day moving average price is $99.69 and its two-hundred day moving average price is $107.57. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.85%. The ex-dividend date is Tuesday, June 17th. PulteGroup’s payout ratio is 6.21%.

Analyst Ratings Changes

PHM has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price 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. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a report on Tuesday, April 22nd. Evercore ISI raised their target price on PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 23rd. Finally, Barclays decreased their target price on PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $134.69.

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.