Kentucky Retirement Systems Sells 339 Shares of PulteGroup, Inc. (NYSE:PHM)

Kentucky Retirement Systems reduced its position in PulteGroup, Inc. (NYSE:PHM) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,922 shares of the construction company’s stock after selling 339 shares during the quarter. Kentucky Retirement Systems’ holdings in PulteGroup were worth $1,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PHM. Global Retirement Partners LLC raised its holdings in shares of PulteGroup by 18.7% in the fourth quarter. Global Retirement Partners LLC now owns 3,242 shares of the construction company’s stock valued at $353,000 after acquiring an additional 510 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in PulteGroup by 21.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,381 shares of the construction company’s stock valued at $477,000 after purchasing an additional 760 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in PulteGroup in the fourth quarter valued at about $3,186,000. Illinois Municipal Retirement Fund grew its stake in PulteGroup by 3.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 78,378 shares of the construction company’s stock valued at $8,535,000 after purchasing an additional 2,375 shares during the last quarter. Finally, MorganRosel Wealth Management LLC grew its stake in PulteGroup by 39.6% in the fourth quarter. MorganRosel Wealth Management LLC now owns 10,996 shares of the construction company’s stock valued at $1,197,000 after purchasing an additional 3,120 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

Shares of PHM stock opened at $105.58 on Wednesday. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a market capitalization of $21.16 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day simple moving average is $100.99 and its 200-day simple moving average is $105.42.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the previous year, the firm earned $3.10 earnings per share. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup’s dividend payout ratio (DPR) is 6.21%.

Analyst Ratings Changes

Several equities analysts have issued reports on PHM shares. Wells Fargo & Company cut their target price on PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Evercore ISI lifted their target price on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Royal Bank Of Canada cut their target price on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group cut their target price on PulteGroup from $151.00 to $141.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.69.

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.