Public Employees Retirement System of Ohio Sells 12,428 Shares of PulteGroup, Inc. (NYSE:PHM)

Public Employees Retirement System of Ohio cut its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 11.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,424 shares of the construction company's stock after selling 12,428 shares during the period. Public Employees Retirement System of Ohio's holdings in PulteGroup were worth $14,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PHM. WR Wealth Planners LLC grew its stake in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock valued at $26,000 after acquiring an additional 82 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of PulteGroup by 115.1% during 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 in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup in the third quarter worth about $29,000. Rothschild Investment LLC purchased a new stake in shares of PulteGroup in the second quarter worth about $31,000. Finally, Candriam S.C.A. bought a new position in PulteGroup during the second quarter valued at approximately $33,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Down 2.8 %

Shares of PHM traded down $3.45 during mid-day trading on Wednesday, reaching $121.89. 2,636,748 shares of the company's stock traded hands, compared to its average volume of 1,824,695. PulteGroup, Inc. has a 12 month low of $95.36 and a 12 month 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. The stock has a market cap of $25.00 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.52 and a beta of 1.62. The stock's 50-day moving average is $133.94 and its two-hundred day moving average is $127.15.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the company posted $2.90 EPS. PulteGroup's quarterly revenue was up 11.8% on a year-over-year basis. Research analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a $0.22 dividend. This is an increase from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Tuesday, December 17th. PulteGroup's dividend payout ratio is currently 6.49%.

Analyst Ratings Changes

PHM has been the topic of a number of research reports. Bank of America lifted their price objective on PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Wells Fargo & Company upped their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Oppenheimer lowered their price objective on shares of PulteGroup from $168.00 to $165.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Wedbush restated a "neutral" rating and set a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. 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 report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $144.29.

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.