Forsta AP Fonden Has $4.41 Million Stock Position in PulteGroup, Inc. $PHM

Forsta AP Fonden reduced its position in PulteGroup, Inc. (NYSE:PHM) by 58.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,600 shares of the construction company’s stock after selling 52,400 shares during the period. Forsta AP Fonden’s holdings in PulteGroup were worth $4,409,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PHM. Rachor Investment Advisory Services LLC acquired a new stake in PulteGroup in the 4th quarter valued at about $31,000. Lloyd Advisory Services LLC. acquired a new stake in PulteGroup during the fourth quarter worth approximately $33,000. High Point Wealth Management LLC acquired a new stake in PulteGroup during the fourth quarter worth approximately $38,000. Beacon Financial Strategies CORP acquired a new stake in PulteGroup during the fourth quarter worth approximately $40,000. Finally, Elyxium Wealth LLC acquired a new stake in PulteGroup during the fourth quarter worth approximately $41,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PHM shares. Oppenheimer restated an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Barclays cut their price objective on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Raymond James Financial restated an “outperform” rating and set a $145.00 price objective on shares of PulteGroup in a research report on Wednesday, February 4th. Evercore raised their price objective on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company raised their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $140.71.

PulteGroup Stock Up 0.1%

NYSE PHM opened at $117.80 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 1-year low of $96.46 and a 1-year high of $144.49. The company has a 50 day moving average of $119.03 and a 200-day moving average of $124.03. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.49 and a beta of 1.20.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. On average, equities research analysts expect that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s payout ratio is presently 10.06%.

PulteGroup announced that its board has authorized a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by insiders.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.