State of Michigan Retirement System Sells 900 Shares of PulteGroup, Inc. (NYSE:PHM)

State of Michigan Retirement System decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,269 shares of the construction company’s stock after selling 900 shares during the period. State of Michigan Retirement System’s holdings in PulteGroup were worth $10,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PHM. First Horizon Advisors Inc. raised its stake in shares of PulteGroup by 2.9% in the fourth quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock worth $371,000 after buying an additional 100 shares during the period. Aprio Wealth Management LLC raised its stake in PulteGroup by 3.1% during the 4th quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock worth $370,000 after acquiring an additional 107 shares during the period. NBC Securities Inc. lifted its holdings in PulteGroup by 2.4% during the first quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock valued at $575,000 after purchasing an additional 112 shares in the last quarter. KMG Fiduciary Partners LLC boosted its position in shares of PulteGroup by 4.1% in the fourth quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock worth $320,000 after purchasing an additional 121 shares during the period. Finally, DNB Asset Management AS increased its stake in shares of PulteGroup by 0.3% in the fourth quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock worth $4,479,000 after purchasing an additional 123 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Down 1.6 %

PHM traded down $1.71 during trading on Tuesday, reaching $104.52. The company had a trading volume of 2,569,577 shares, compared to its average volume of 1,784,277. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $122.72. The stock has a market cap of $21.98 billion, a P/E ratio of 8.37, a PEG ratio of 0.49 and a beta of 1.61. The business has a 50 day simple moving average of $113.93 and a 200-day simple moving average of $109.81.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.51. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.59 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. On average, equities analysts anticipate that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Tuesday, June 18th. PulteGroup’s dividend payout ratio is currently 6.41%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PHM shares. Jefferies Financial Group lifted their target price on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Raymond James reaffirmed an “outperform” rating and issued a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Citigroup decreased their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday. Oppenheimer upped their price target on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Barclays lifted their price objective on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.21.

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.