Public Employees Retirement System of Ohio Has $14.27 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Public Employees Retirement System of Ohio reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 11.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 99,424 shares of the construction company’s stock after selling 12,428 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in PulteGroup were worth $14,270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PHM. FMR LLC grew its holdings in PulteGroup by 102.3% during 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 period. Westfield Capital Management Co. LP acquired a new position in shares of PulteGroup in the 3rd quarter valued at $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PulteGroup by 357.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after buying an additional 407,764 shares in the last quarter. KBC Group NV increased its position in shares of PulteGroup by 1,020.0% in the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after buying an additional 397,003 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after buying an additional 250,937 shares during the period. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

PHM has been the subject of several recent analyst reports. Bank of America increased their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Evercore ISI dropped their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Oppenheimer reduced their price target on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. UBS Group raised their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, BTIG Research upped their target price on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Trading Down 2.4 %

NYSE PHM opened at $125.37 on Wednesday. PulteGroup, Inc. has a 12 month low of $95.36 and a 12 month high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $134.76 and a 200-day moving average of $127.11. The company has a market cap of $25.71 billion, a PE ratio of 9.25, a PEG ratio of 0.52 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.90 earnings per share. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.70%. PulteGroup’s payout ratio is presently 6.49%.

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.