PulteGroup (NYSE:PHM) Reaches New 52-Week Low Following Analyst Downgrade

Shares of PulteGroup, Inc. (NYSE:PHM) reached a new 52-week low during trading on Tuesday after Barclays lowered their price target on the stock from $117.00 to $100.00. Barclays currently has an equal weight rating on the stock. PulteGroup traded as low as $93.42 and last traded at $93.60, with a volume of 887926 shares changing hands. The stock had previously closed at $96.14.

Other equities research analysts also recently issued reports about the company. Bank of America reduced their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. 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 research note on Tuesday, December 17th. UBS Group lifted their target price on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.64.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the transaction, the vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 over the last ninety days. 0.76% of the stock is currently owned by company insiders.

Institutional Trading of PulteGroup

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Benjamin Edwards Inc. grew its stake in shares of PulteGroup by 1,016.9% in the third quarter. Benjamin Edwards Inc. now owns 2,714 shares of the construction company’s stock worth $390,000 after purchasing an additional 2,471 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in PulteGroup by 7.4% during the 3rd quarter. Janus Henderson Group PLC now owns 30,624 shares of the construction company’s stock worth $4,395,000 after buying an additional 2,100 shares during the period. IHT Wealth Management LLC acquired a new stake in shares of PulteGroup in the third quarter valued at about $247,000. Morse Asset Management Inc raised its position in shares of PulteGroup by 26.2% during the third quarter. Morse Asset Management Inc now owns 9,735 shares of the construction company’s stock worth $1,397,000 after acquiring an additional 2,020 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of PulteGroup by 0.7% during the third quarter. Wellington Management Group LLP now owns 35,191 shares of the construction company’s stock worth $5,051,000 after acquiring an additional 258 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The stock has a 50 day moving average of $105.68 and a 200 day moving average of $119.58. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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 predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its board has initiated a share buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.