PulteGroup (NYSE:PHM) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of PulteGroup (NYSE:PHM) from a strong sell rating to a hold rating in a report published on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on PHM. Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. UBS Group upped their price objective on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group lowered their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company lowered their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Stock Performance

PulteGroup stock opened at $108.06 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $21.88 billion, a P/E ratio of 7.35, a PEG ratio of 0.29 and a beta of 1.71. The stock’s 50 day moving average is $109.48 and its 200 day moving average is $124.09. PulteGroup has a twelve month low of $100.54 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. On average, equities research analysts predict that PulteGroup will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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 paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.81%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup announced that its board has approved a stock repurchase program 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 programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian P. Anderson sold 2,500 shares of the company’s 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 completion of the sale, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Institutional investors have recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new stake in PulteGroup in the 3rd quarter worth $29,000. Hager Investment Management Services LLC purchased a new stake in PulteGroup in the 4th quarter worth $29,000. Fortitude Family Office LLC increased its stake in PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after buying an additional 137 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in PulteGroup in the 4th quarter worth $37,000. Finally, TD Waterhouse Canada Inc. increased its stake in PulteGroup by 43.0% in 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 in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

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.