PulteGroup (NYSE:PHM) Hits New 1-Year Low – Here’s What Happened

PulteGroup, Inc. (NYSE:PHM) shares reached a new 52-week low during trading on Monday . The company traded as low as $99.58 and last traded at $101.46, with a volume of 113652 shares traded. The stock had previously closed at $101.74.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PHM shares. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Citigroup reduced their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays lowered their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. UBS Group lifted their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day moving average of $107.04 and a 200-day moving average of $120.76. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

PulteGroup declared that its Board of Directors has approved a stock repurchase plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % 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 over the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PulteGroup

Institutional investors have recently bought and sold shares of the business. Hager Investment Management Services LLC bought a new position in shares of PulteGroup during the 4th quarter worth approximately $29,000. Fortitude Family Office LLC boosted its position in PulteGroup by 74.1% during the fourth 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. Ameriflex Group Inc. acquired a new position in shares of PulteGroup in the fourth quarter valued at $37,000. TD Waterhouse Canada Inc. lifted its stake in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after buying an additional 105 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of PulteGroup during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

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.