Forsta AP Fonden Has $4.07 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Forsta AP Fonden lessened its position in shares of PulteGroup, Inc. (NYSE:PHM) by 11.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,000 shares of the construction company’s stock after selling 4,600 shares during the quarter. Forsta AP Fonden’s holdings in PulteGroup were worth $4,074,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PHM. Norges Bank acquired a new position in shares of PulteGroup during the fourth quarter valued at $381,960,000. Swedbank AB acquired a new position in shares of PulteGroup during the first quarter valued at $68,985,000. Allianz Asset Management GmbH lifted its stake in shares of PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after acquiring an additional 523,623 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of PulteGroup by 130.2% during the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after acquiring an additional 219,609 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of PulteGroup by 40.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after acquiring an additional 212,837 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Up 3.1 %

NYSE PHM opened at $139.54 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $29.35 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.54 and a beta of 1.62. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $140.77. The stock’s 50-day moving average is $125.73 and its 200-day moving average is $117.43.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter last year, the firm earned $3.00 EPS. PulteGroup’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s dividend payout ratio is presently 6.41%.

Insider Transactions at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock valued at $15,814,039 over the last 90 days. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BTIG Research increased their target price on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America increased their target price on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI increased their target price on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Oppenheimer increased their target price on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays increased their target price on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.14.

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.