Insider Selling: PulteGroup, Inc. (NYSE:PHM) EVP Sells 15,191 Shares of Stock

PulteGroup, Inc. (NYSE:PHM) EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $107.45 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. The company’s fifty day moving average price is $112.63 and its 200 day moving average price is $126.12. The company has a market capitalization of $21.75 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 1 year low of $100.24 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. On average, research analysts predict that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

PulteGroup Announces Dividend

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

PulteGroup declared that its board has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have weighed in on PHM shares. UBS Group boosted their target price on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Wells Fargo & Company dropped their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Citigroup dropped their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. One 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. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $140.86.

Hedge Funds Weigh In On PulteGroup

Large investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup in the third quarter valued at about $29,000. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $29,000. JNBA Financial Advisors acquired a new stake in shares of PulteGroup in the third quarter valued at about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of PulteGroup by 1,059.3% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after buying an additional 286 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

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.