PulteGroup (NYSE:PHM) Hits New 52-Week Low on Analyst Downgrade

PulteGroup, Inc. (NYSE:PHM) shares reached a new 52-week low during mid-day 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.

PHM has been the subject of a number of other research reports. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Citigroup dropped their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Finally, Bank of America decreased their price objective on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.64.

Insiders Place Their Bets

In related news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, the director now directly owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s 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 transaction, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock worth $2,256,367 over the last quarter. 0.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC lifted its holdings in PulteGroup by 14.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,916 shares of the construction company’s stock worth $403,000 after acquiring an additional 483 shares during the last quarter. GAMMA Investing LLC boosted its position in PulteGroup by 14,184.0% during the 1st quarter. GAMMA Investing LLC now owns 312,820 shares of the construction company’s stock worth $32,158,000 after acquiring an additional 310,630 shares during the period. Versant Capital Management Inc grew its stake in shares of PulteGroup by 559.7% in the first quarter. Versant Capital Management Inc now owns 4,235 shares of the construction company’s stock worth $435,000 after purchasing an additional 3,593 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of PulteGroup by 37.2% during the first quarter. First Hawaiian Bank now owns 3,362 shares of the construction company’s stock valued at $346,000 after purchasing an additional 912 shares during the period. Finally, 111 Capital acquired a new stake in PulteGroup in the fourth quarter worth about $240,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 4.5 %

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

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, research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup announced that its Board of Directors has authorized a share buyback program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.