Insider Selling: PulteGroup, Inc. (NYSE:PHM) EVP Sells $1,617,841.50 in Stock

PulteGroup, Inc. (NYSE:PHM) EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PulteGroup Trading Up 0.7 %

NYSE:PHM opened at $107.45 on Friday. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47. 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 firm has a market cap of $21.75 billion, a P/E ratio of 7.30, a P/E/G ratio of 0.29 and a beta of 1.68. The firm has a 50-day simple moving average of $112.63 and a 200-day simple moving average of $126.12.

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

PulteGroup announced that its board has approved a stock repurchase plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PHM. Oppenheimer dropped their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group dropped their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Evercore ISI dropped their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average price target of $140.86.

Institutional Investors Weigh In On PulteGroup

Large investors have recently modified their holdings of the business. Fortitude Family Office LLC raised its stake in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of PulteGroup during the 3rd quarter worth approximately $29,000. Hager Investment Management Services LLC bought a new position in shares of PulteGroup during the 4th quarter worth approximately $29,000. JNBA Financial Advisors bought a new position in shares of PulteGroup during the 3rd quarter worth approximately $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after acquiring an additional 286 shares in the last quarter. 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.