PulteGroup, Inc. (NYSE:PHM) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lowered its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 31.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,850 shares of the construction company's stock after selling 42,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in PulteGroup were worth $10,108,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in shares of PulteGroup by 102.3% in the third quarter. FMR LLC now owns 9,040,828 shares of the construction company's stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. Amundi increased its holdings in shares of PulteGroup by 77.9% in the fourth quarter. Amundi now owns 1,636,562 shares of the construction company's stock valued at $180,775,000 after purchasing an additional 716,716 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of PulteGroup by 5.5% in the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company's stock valued at $1,647,364,000 after purchasing an additional 585,735 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of PulteGroup in the third quarter valued at approximately $66,485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PulteGroup by 357.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company's stock valued at $74,917,000 after purchasing an additional 407,764 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

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Insider Activity

In other PulteGroup news, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares in the company, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.83% of the company's stock.

PulteGroup Stock Up 1.7 %

Shares of NYSE PHM traded up $1.80 during mid-day trading on Wednesday, hitting $105.29. The company had a trading volume of 2,047,676 shares, compared to its average volume of 2,257,884. The company has a market capitalization of $21.32 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a 1-year low of $100.54 and a 1-year high of $149.47. The business's 50-day simple moving average is $108.83 and its 200 day simple moving average is $122.69.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its board has authorized a share buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Tuesday, March 18th. PulteGroup's payout ratio is currently 5.98%.

Analyst Upgrades and Downgrades

PHM has been the subject of several analyst reports. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. UBS Group increased their price objective on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Citigroup lowered their price objective on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Finally, The Goldman Sachs Group lowered their price objective on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Seven 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 stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.86.

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.