Skandinaviska Enskilda Banken AB publ Has $10.11 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Skandinaviska Enskilda Banken AB publ lowered its position in PulteGroup, Inc. (NYSE:PHM) by 31.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 92,850 shares of the construction company’s stock after selling 42,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in PulteGroup were worth $10,108,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PHM. Hager Investment Management Services LLC acquired a new position in shares of PulteGroup in the 4th quarter worth approximately $29,000. Fortitude Family Office LLC lifted its position in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after purchasing an additional 137 shares during the period. R Squared Ltd acquired a new position in shares of PulteGroup in the 4th quarter worth approximately $39,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock worth $48,000 after purchasing an additional 131 shares during the period. Finally, Oakworth Capital Inc. lifted its position in shares of PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after acquiring an additional 411 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE PHM opened at $103.04 on Friday. PulteGroup, Inc. has a 1 year low of $100.54 and a 1 year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.29 and a beta of 1.71. The company has a fifty day moving average price of $109.01 and a 200-day moving average price of $123.19.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.85%. PulteGroup’s payout ratio is 5.98%.

PulteGroup declared that its Board of Directors has authorized a share buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on PHM shares. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Citigroup dropped their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group dropped their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Wedbush reiterated an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.86.

Insider Transactions at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock worth $2,256,367 in the last quarter. 0.83% of the stock is currently owned by corporate insiders.

About PulteGroup

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.