Key Points
- EVP Kevin Henry sold 5,173 shares of PulteGroup on Feb. 24 at an average price of $141.03 for $729,548, cutting his position by 26.07% to 14,673 shares (worth about $2.07M).
- PulteGroup declared a quarterly dividend of $0.26 per share (annualized $1.04) payable Apr. 2, with record/ex-dividend date Mar. 17, implying a yield of ~0.7% and a payout ratio of 9.35%.
- Institutional activity is heavy: 89.9% of shares are institutionally owned, with large recent buys from Norges Bank, Price T. Rowe and others, and analysts show a consensus "Moderate Buy" with a $140.62 target.
PulteGroup, Inc. (NYSE:PHM - Get Free Report) EVP Kevin Henry sold 5,173 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the transaction, the executive vice president owned 14,673 shares of the company's stock, valued at approximately $2,069,333.19. The trade was a 26.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
PulteGroup Stock Up 0.5%
NYSE:PHM opened at $140.91 on Wednesday. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $144.49. The company has a market cap of $27.10 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. The stock has a fifty day simple moving average of $128.50 and a 200-day simple moving average of $127.39. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.
PulteGroup Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. PulteGroup's dividend payout ratio (DPR) is presently 9.35%.
Institutional Trading of PulteGroup
Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in PulteGroup in the fourth quarter worth $466,653,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of PulteGroup by 126.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company's stock valued at $502,366,000 after purchasing an additional 2,392,580 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of PulteGroup in the 3rd quarter worth $315,883,000. AGF Management Ltd. purchased a new position in PulteGroup during the 3rd quarter worth $174,347,000. Finally, American Century Companies Inc. grew its stake in PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company's stock worth $225,024,000 after buying an additional 930,287 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on PHM. Royal Bank Of Canada raised their target price on shares of PulteGroup from $111.00 to $115.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. Wall Street Zen upgraded PulteGroup from a "sell" rating to a "hold" rating in a report on Sunday, January 11th. UBS Group decreased their target price on PulteGroup from $160.00 to $159.00 and set a "buy" rating for the company in a research report on Tuesday, January 6th. JPMorgan Chase & Co. dropped their price target on PulteGroup from $149.00 to $131.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 3rd. Finally, Citizens Jmp started coverage on PulteGroup in a research note on Wednesday, January 7th. They set a "market outperform" rating and a $145.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.
Get Our Latest Analysis on PHM
About PulteGroup
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
