PulteGroup (NYSE:PHM) COO Sells $894,840.00 in Stock

PulteGroup, Inc. (NYSE:PHM) COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the sale, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

PulteGroup Trading Up 1.0%

Shares of NYSE PHM traded up $1.22 during mid-day trading on Wednesday, hitting $119.06. 1,810,246 shares of the company traded hands, compared to its average volume of 1,894,696. PulteGroup, Inc. has a 1 year low of $95.20 and a 1 year high of $144.49. The stock has a market capitalization of $22.68 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.48 and a beta of 1.23. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $119.14 and a two-hundred day moving average of $124.07.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the company earned $2.57 earnings per share. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 10 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio is currently 10.06%.

Institutional Investors Weigh In On PulteGroup

Several hedge funds have recently bought and sold shares of the business. Glenmede Trust Co. NA lifted its stake in PulteGroup by 0.7% in the 1st quarter. Glenmede Trust Co. NA now owns 40,365 shares of the construction company’s stock worth $4,747,000 after acquiring an additional 275 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of PulteGroup during the 1st quarter worth about $130,000. Bank of America Corp DE raised its stake in shares of PulteGroup by 4.3% during the 1st quarter. Bank of America Corp DE now owns 1,963,175 shares of the construction company’s stock worth $230,889,000 after purchasing an additional 80,352 shares in the last quarter. Edgestream Partners L.P. raised its stake in shares of PulteGroup by 11.2% during the 1st quarter. Edgestream Partners L.P. now owns 75,545 shares of the construction company’s stock worth $8,885,000 after purchasing an additional 7,609 shares in the last quarter. Finally, Kentucky Retirement Systems raised its stake in shares of PulteGroup by 130.6% during the 1st quarter. Kentucky Retirement Systems now owns 28,463 shares of the construction company’s stock worth $3,348,000 after purchasing an additional 16,120 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PHM. Wells Fargo & Company upped their target price on PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, April 24th. JPMorgan Chase & Co. reduced their target price on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Barclays reduced their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Royal Bank Of Canada upped their target price on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $145.00 price objective on shares of PulteGroup in a research note on Wednesday, February 4th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.