Retirement Systems of Alabama Lowers Position in PulteGroup, Inc. (NYSE:PHM)

Retirement Systems of Alabama lessened its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,605 shares of the construction company's stock after selling 17,758 shares during the period. Retirement Systems of Alabama owned 0.11% of PulteGroup worth $31,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. WR Wealth Planners LLC boosted its holdings in shares of PulteGroup by 54.7% in 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 boosted its holdings in PulteGroup by 115.1% in the 3rd 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 acquired a new position in PulteGroup during the 3rd quarter worth approximately $29,000. Rothschild Investment LLC acquired a new stake in shares of PulteGroup in the 2nd quarter valued at approximately $31,000. Finally, Candriam S.C.A. acquired a new stake in shares of PulteGroup in the 2nd quarter valued at approximately $33,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com lowered shares of PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday. Wedbush reissued a "neutral" rating and set a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Bank of America increased their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Barclays reiterated an "equal weight" rating and set a $140.00 price target (down from $150.00) on shares of PulteGroup in a research report on Wednesday. Finally, BTIG Research upped their price target on PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and a consensus price target of $144.50.

PulteGroup Trading Down 1.9 %

NYSE:PHM traded down $2.27 on Friday, reaching $118.42. The stock had a trading volume of 2,174,743 shares, compared to its average volume of 1,826,453. PulteGroup, Inc. has a 12-month low of $99.03 and a 12-month high of $149.47. The company has a market cap of $24.29 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 0.50 and a beta of 1.62. The firm's fifty day moving average is $133.08 and its two-hundred day moving average is $127.14. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.90 earnings per share. Equities analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's payout ratio is currently 6.49%.

PulteGroup 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.