Livforsakringsbolaget Skandia Omsesidigt Has $12.71 Million Stake in PulteGroup, Inc. $PHM

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 9.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 107,852 shares of the construction company’s stock after purchasing an additional 9,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned 0.06% of PulteGroup worth $12,708,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PHM. Norges Bank acquired a new stake in PulteGroup during the fourth quarter worth about $466,653,000. Price T Rowe Associates Inc. MD increased its stake in PulteGroup by 126.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after acquiring an additional 2,392,580 shares during the period. Public Sector Pension Investment Board raised its holdings in PulteGroup by 5,485.0% in the 4th quarter. Public Sector Pension Investment Board now owns 930,622 shares of the construction company’s stock valued at $109,125,000 after acquiring an additional 913,959 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of PulteGroup by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after acquiring an additional 655,033 shares during the period. Finally, Milford Funds Ltd. bought a new stake in shares of PulteGroup in the 4th quarter worth approximately $68,379,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Up 0.4%

Shares of PHM stock opened at $124.19 on Wednesday. PulteGroup, Inc. has a 12-month low of $107.16 and a 12-month high of $144.49. The company has a market capitalization of $23.66 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.58 and a beta of 1.18. The firm has a 50-day moving average price of $122.40 and a 200 day moving average price of $124.87. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.PulteGroup’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 earnings per share. Research analysts forecast that PulteGroup, Inc. will post 9.95 earnings per share for the current fiscal year.

PulteGroup declared that its board has initiated a share buyback plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s dividend payout ratio is 10.06%.

Insiders Place Their Bets

In related news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at $3,372,000. This trade represents a 20.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of recent research reports. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Evercore lifted their price target on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Seaport Research Partners restated a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Finally, The Goldman Sachs Group raised their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $142.21.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.