Key Points
- PulteGroup COO Matthew William Koart sold 7,457 shares on May 27 at an average price of $120, totaling about $894,840. After the sale, he still owned 28,100 shares, and the transaction reduced his position by about 21%.
- The stock was trading up about 1% around $119.06, with PulteGroup showing a market cap of $22.68 billion and a price-to-earnings ratio of 11.51. The shares have traded between $95.20 and $144.49 over the past year.
- PulteGroup recently reported mixed quarterly results, missing EPS expectations by a penny while slightly beating revenue estimates. The company also announced a $1.5 billion share repurchase program and a quarterly dividend of $0.26 per share, payable July 2.
PulteGroup, Inc. (NYSE:PHM - Get Free Report) COO Matthew William Koart sold 7,457 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer owned 28,100 shares of the company's stock, valued at $3,372,000. The trade was a 20.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
PulteGroup Trading Up 1.0%
PHM opened at $119.06 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $22.68 billion, a PE ratio of 11.51, a PEG ratio of 1.49 and a beta of 1.23. PulteGroup, Inc. has a 1-year low of $95.20 and a 1-year high of $144.49. The firm has a 50-day moving average price of $119.08 and a two-hundred day moving average price of $124.07.
PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The company's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 EPS. As a group, equities 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 program on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
PulteGroup Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup's dividend payout ratio (DPR) is presently 10.06%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in PulteGroup by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company's stock valued at $67,387,000 after buying an additional 13,259 shares in the last quarter. Principal Financial Group Inc. lifted its stake in PulteGroup by 24.2% in the third quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company's stock valued at $41,348,000 after buying an additional 61,009 shares in the last quarter. Dorato Capital Management bought a new position in PulteGroup in the fourth quarter valued at approximately $2,625,000. EFG Asset Management Americas Corp. lifted its stake in PulteGroup by 351.9% in the third quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company's stock valued at $6,177,000 after buying an additional 36,407 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in PulteGroup by 166.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company's stock valued at $1,964,000 after buying an additional 10,467 shares in the last quarter. Institutional investors own 89.90% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on PHM shares. UBS Group lifted their price target on shares of PulteGroup from $159.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Bank of America lowered their price target on shares of PulteGroup from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Truist Financial lowered their price target on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Barclays lowered their price target on shares of PulteGroup from $115.00 to $112.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PulteGroup from $149.00 to $131.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 3rd. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $140.71.
Get Our Latest Research Report on PulteGroup
About PulteGroup
(
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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.
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