Skandinaviska Enskilda Banken AB publ Reduces Stock Position in PulteGroup, Inc. (NYSE:PHM)

Skandinaviska Enskilda Banken AB publ lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 24.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,427 shares of the construction company’s stock after selling 68,686 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in PulteGroup were worth $22,948,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. AE Wealth Management LLC boosted its stake in PulteGroup by 14.6% in the second quarter. AE Wealth Management LLC now owns 8,418 shares of the construction company’s stock valued at $927,000 after acquiring an additional 1,075 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in PulteGroup by 7.5% in the second quarter. Canada Pension Plan Investment Board now owns 203,000 shares of the construction company’s stock valued at $22,350,000 after acquiring an additional 14,213 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in PulteGroup by 54.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,580 shares of the construction company’s stock valued at $284,000 after acquiring an additional 912 shares in the last quarter. Ieq Capital LLC boosted its stake in PulteGroup by 11.9% in the second quarter. Ieq Capital LLC now owns 18,687 shares of the construction company’s stock valued at $2,057,000 after acquiring an additional 1,985 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in PulteGroup by 95.2% in the second quarter. Intech Investment Management LLC now owns 273,345 shares of the construction company’s stock valued at $30,095,000 after acquiring an additional 133,283 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $141.86 on Friday. 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 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 52 week low of $68.80 and a 52 week high of $145.84. The company has a 50-day moving average price of $128.95 and a 200 day moving average price of $118.50.

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

PulteGroup Dividend Announcement

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

Insider Activity at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $15,814,039 over the last 90 days. Company insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PHM shares. Barclays upped their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Citigroup decreased their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Bank of America upped their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada increased their target price on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Finally, Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.71.

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.