PulteGroup, Inc. (NYSE:PHM) Director Sells $266,125.00 in Stock

PulteGroup, Inc. (NYSE:PHM) Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PulteGroup Stock Up 0.6 %

Shares of PHM opened at $106.67 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 0.29 and a beta of 1.68. The stock has a 50 day moving average price of $113.44 and a 200 day moving average price of $126.49.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Equities research analysts forecast that PulteGroup, Inc. will post 12.43 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup announced that its Board of Directors has initiated a stock buyback plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PHM. Citigroup cut their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Seaport Res Ptn downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Oppenheimer reduced their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. BTIG Research upped their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI reduced their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.86.

Institutional Trading of PulteGroup

Several large investors have recently added to or reduced their stakes in the stock. Jump Financial LLC grew its holdings in PulteGroup by 210.5% in the 4th quarter. Jump Financial LLC now owns 16,799 shares of the construction company’s stock valued at $1,829,000 after buying an additional 11,388 shares in the last quarter. Bridgewater Associates LP grew its holdings in PulteGroup by 118.8% in the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company’s stock valued at $85,332,000 after buying an additional 425,492 shares in the last quarter. Kane Investment Management Inc. purchased a new stake in PulteGroup in the 4th quarter valued at $847,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in PulteGroup in the 4th quarter valued at $31,025,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in PulteGroup in the 4th quarter valued at $409,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

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.