PulteGroup, Inc. (NYSE:PHM – Get Rating) Director Brian P. Anderson sold 15,000 shares of the company’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $66.95, for a total value of $1,004,250.00. Following the completion of the transaction, the director now directly owns 55,886 shares in the company, valued at approximately $3,741,567.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
PulteGroup Trading Up 1.3 %
PHM opened at $67.15 on Friday. PulteGroup, Inc. has a one year low of $35.03 and a one year high of $67.20. The company has a market cap of $14.99 billion, a P/E ratio of 5.78, a PEG ratio of 0.51 and a beta of 1.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.62 and a current ratio of 0.70. The business’s 50-day simple moving average is $57.60 and its 200-day simple moving average is $50.19.
PulteGroup (NYSE:PHM – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The construction company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.57. PulteGroup had a return on equity of 31.03% and a net margin of 16.22%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities research analysts expect that PulteGroup, Inc. will post 8.06 EPS for the current fiscal year.
PulteGroup Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 4th. Investors of record on Monday, March 20th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, March 17th. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. PulteGroup’s dividend payout ratio is presently 5.51%.
PulteGroup declared that its board has initiated a share repurchase program on Tuesday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
Several equities analysts recently issued reports on PHM shares. VNET Group reissued a “maintains” rating on shares of PulteGroup in a research note on Wednesday. BTIG Research increased their target price on PulteGroup from $68.00 to $83.00 in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on PulteGroup from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Wolfe Research raised PulteGroup from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Wednesday, March 22nd. Finally, Oppenheimer increased their price target on PulteGroup from $73.00 to $80.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.86.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its stake in PulteGroup by 12.4% during the 4th quarter. CWM LLC now owns 2,433 shares of the construction company’s stock worth $111,000 after buying an additional 268 shares during the last quarter. Royal Bank of Canada grew its stake in PulteGroup by 24.4% during the 3rd quarter. Royal Bank of Canada now owns 728,006 shares of the construction company’s stock worth $27,300,000 after buying an additional 142,668 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in PulteGroup by 24.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 174,838 shares of the construction company’s stock worth $6,556,000 after buying an additional 33,834 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PulteGroup by 11.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,076 shares of the construction company’s stock worth $6,560,000 after buying an additional 14,572 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in PulteGroup by 71.0% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 41,567 shares of the construction company’s stock worth $1,559,000 after buying an additional 17,264 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
About PulteGroup
PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.
Read More
Receive News & Ratings for PulteGroup Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PulteGroup and related companies with MarketBeat.com’s FREE daily email newsletter.