PulteGroup (NYSE:PHM) Stock Price Down 2.7% – Here’s Why

PulteGroup, Inc. (NYSE:PHM) shares dropped 2.7% during mid-day trading on Friday . The company traded as low as $138.47 and last traded at $139.18. Approximately 260,409 shares traded hands during trading, a decline of 86% from the average daily volume of 1,844,802 shares. The stock had previously closed at $142.97.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Friday, August 16th. BTIG Research boosted their price objective on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays increased their target price on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, Raymond James lifted their price target on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $135.93.

PulteGroup Stock Down 3.3 %

The firm has a market cap of $28.70 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 0.58 and a beta of 1.62. The firm has a fifty day moving average of $132.43 and a 200-day moving average of $120.43. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.56. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.00 EPS. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. PulteGroup’s payout ratio is 6.41%.

Insider Buying and Selling

In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares in the company, valued at $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock valued at $15,814,039 over the last quarter. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several institutional investors have recently added to or reduced their stakes in PHM. Blair William & Co. IL increased its stake in shares of PulteGroup by 1.9% in the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock worth $3,289,000 after acquiring an additional 516 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in shares of PulteGroup by 166.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after purchasing an additional 8,215 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in PulteGroup by 6.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after acquiring an additional 17,369 shares in the last quarter. Personal CFO Solutions LLC bought a new stake in shares of PulteGroup during the 4th quarter valued at $719,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in PulteGroup by 4.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company’s stock valued at $74,913,000 after purchasing an additional 28,774 shares during the period. Hedge funds and other institutional investors 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.