PulteGroup, Inc. (NYSE:PHM) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 24.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,427 shares of the construction company’s stock after selling 68,686 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.10% of PulteGroup worth $22,948,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PHM. WR Wealth Planners LLC raised its stake in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Lebenthal Global Advisors LLC raised its stake in PulteGroup by 3.9% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after purchasing an additional 87 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in PulteGroup by 2.0% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock valued at $614,000 after purchasing an additional 101 shares during the last quarter. Patten Group Inc. raised its stake in PulteGroup by 2.9% in the 2nd quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock valued at $419,000 after purchasing an additional 109 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in PulteGroup by 2.4% in the 1st quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock valued at $575,000 after purchasing an additional 112 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays raised their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Citigroup cut their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Raymond James raised their target price on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.71.

PulteGroup Price Performance

Shares of PHM opened at $141.86 on Friday. The company has a market cap of $29.44 billion, a P/E ratio of 11.36, a PEG ratio of 0.57 and a beta of 1.62. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $145.84. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average price is $128.95 and its 200 day moving average price is $118.50.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.49 billion. During the same period last year, the firm earned $3.00 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.56%. PulteGroup’s payout ratio is 6.41%.

Insider Activity at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the transaction, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The transaction was disclosed in a filing with the SEC, which is available 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 transaction, the director now owns 45,230 shares of the company’s stock, 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.

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.