Avanza Fonder AB Makes New $2.50 Million Investment in PulteGroup, Inc. (NYSE:PHM)

Avanza Fonder AB bought a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,972 shares of the construction company’s stock, valued at approximately $2,502,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Logan Capital Management Inc. boosted its stake in PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after purchasing an additional 5,976 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of PulteGroup by 38.1% during the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after buying an additional 33,472 shares in the last quarter. Trustmark National Bank Trust Department boosted its position in shares of PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after acquiring an additional 11,269 shares during the period. Systematic Financial Management LP grew its stake in shares of PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after acquiring an additional 4,840 shares in the last quarter. Finally, New Millennium Group LLC increased its position in PulteGroup by 10,625.8% during the third quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock worth $1,370,000 after acquiring an additional 9,457 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $117.11 on Friday. The company’s 50 day moving average price is $120.34 and its two-hundred day moving average price is $126.86. The firm has a market capitalization of $24.02 billion, a P/E ratio of 8.64, a P/E/G ratio of 0.43 and a beta of 1.67. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.90 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 12.96 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.22 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, December 17th. PulteGroup’s payout ratio is 6.49%.

Analysts Set New Price Targets

PHM has been the subject of a number of recent research reports. UBS Group raised shares of PulteGroup from a “neutral” rating to a “buy” rating and cut their price objective for the company from $154.00 to $148.00 in a report on Wednesday, January 8th. Oppenheimer cut their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup dropped their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Evercore ISI dropped their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.14.

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.