Avanza Fonder AB Buys Shares of 22,972 PulteGroup, Inc. (NYSE:PHM)

Avanza Fonder AB acquired a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,972 shares of the construction company's stock, valued at approximately $2,502,000.

A number of other hedge funds have also made changes to their positions in the business. Fortitude Family Office LLC boosted its stake in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after purchasing an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new position in PulteGroup in the 3rd quarter valued at about $29,000. JNBA Financial Advisors acquired a new stake in shares of PulteGroup during the third quarter valued at about $43,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company's stock worth $45,000 after acquiring an additional 286 shares during the last quarter. Finally, Grove Bank & Trust lifted its stake in shares of PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock worth $66,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE PHM traded up $0.18 during trading hours on Friday, hitting $117.11. The company had a trading volume of 2,441,237 shares, compared to its average volume of 1,712,113. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The firm has a market cap of $24.02 billion, a P/E ratio of 8.64, a price-to-earnings-growth 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 business has a fifty day simple moving average of $120.34 and a 200-day simple moving average of $127.01.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.27 billion. During the same quarter last year, the company earned $2.90 EPS. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts predict that PulteGroup, Inc. will post 12.96 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.75%. This is a positive change from PulteGroup's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup's dividend payout ratio is 6.49%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com downgraded PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. BTIG Research lifted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Evercore ISI dropped their target price on shares of PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group raised shares of PulteGroup from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $154.00 to $148.00 in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.14.

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.