Saudi Central Bank Boosts Stock Holdings in PulteGroup, Inc. $PHM

Saudi Central Bank grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 86.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,411 shares of the construction company’s stock after buying an additional 6,216 shares during the period. Saudi Central Bank’s holdings in PulteGroup were worth $1,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. Cedar Mountain Advisors LLC increased its position in PulteGroup by 1,650.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. NFSG Corp acquired a new position in PulteGroup during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC grew its stake in PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after buying an additional 168 shares during the period. DV Equities LLC acquired a new position in shares of PulteGroup during the 4th quarter valued at $32,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of PulteGroup during the 4th quarter valued at $33,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on PHM. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Oppenheimer restated an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Citigroup reaffirmed a “market outperform” rating on shares of PulteGroup in a research report on Tuesday, August 18th. Wolfe Research set a $129.00 target price on PulteGroup and gave the company an “outperform” rating in a report on Monday, August 24th. Finally, Wells Fargo & Company boosted their price target on PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $142.20.

PulteGroup Stock Performance

NYSE:PHM opened at $120.36 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a 50-day moving average of $128.14 and a two-hundred day moving average of $124.74. The stock has a market cap of $22.56 billion, a P/E ratio of 12.29, a PEG ratio of 1.54 and a beta of 1.19. PulteGroup, Inc. has a 1-year low of $108.49 and a 1-year high of $144.49.

PulteGroup (NYSE:PHM) last announced its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the company earned $3.03 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, research analysts expect that PulteGroup, Inc. will post 10.12 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup’s payout ratio is currently 10.62%.

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.