PulteGroup (NYSE:PHM) Sets New 52-Week High – Here’s What Happened

PulteGroup, Inc. (NYSE:PHM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $146.27 and last traded at $145.99, with a volume of 384516 shares traded. The stock had previously closed at $142.54.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup cut their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Bank of America increased their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. Barclays increased their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI upped their price objective on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.14.

PulteGroup Stock Up 1.5 %

The business has a 50-day moving average price of $133.84 and a 200 day moving average price of $121.71. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $30.42 billion, a P/E ratio of 11.41, a P/E/G ratio of 0.57 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter last year, the business earned $3.00 earnings per share. PulteGroup’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.55%. PulteGroup’s payout ratio is currently 6.41%.

Insider Activity

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock valued at $15,814,039 in the last ninety days. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several large investors have recently added to or reduced their stakes in PHM. Benjamin Edwards Inc. bought a new stake in PulteGroup during the 1st quarter valued at $26,000. WR Wealth Planners LLC boosted its position in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC bought a new position in PulteGroup in the first quarter worth about $28,000. Rothschild Investment LLC purchased a new stake in shares of PulteGroup during the second quarter valued at about $31,000. Finally, Candriam S.C.A. bought a new stake in shares of PulteGroup in the 2nd quarter valued at about $33,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

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.