PulteGroup, Inc. (NYSE:PHM) Director Brian P. Anderson Sells 2,500 Shares

PulteGroup, Inc. (NYSE:PHM) Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

PulteGroup Stock Up 0.5 %

Shares of PHM stock opened at $107.10 on Wednesday. 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’s 50-day moving average is $114.44 and its 200-day moving average is $126.79. The stock has a market cap of $21.68 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 52-week low of $100.24 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. Sell-side analysts predict that PulteGroup, Inc. will post 12.43 EPS for the current year.

PulteGroup declared that its Board of Directors has initiated a share buyback program on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 0.82%. PulteGroup’s dividend payout ratio is currently 5.98%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PHM. Dynamic Advisor Solutions LLC acquired a new position in shares of PulteGroup during the 3rd quarter worth approximately $293,000. Brookstone Capital Management acquired a new position in shares of PulteGroup during the 3rd quarter worth approximately $267,000. Inspire Investing LLC grew its position in shares of PulteGroup by 230.1% during the 3rd quarter. Inspire Investing LLC now owns 7,908 shares of the construction company’s stock worth $1,135,000 after purchasing an additional 5,512 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of PulteGroup by 145.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,098 shares of the construction company’s stock worth $732,000 after purchasing an additional 3,025 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new position in shares of PulteGroup during the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PHM. Wells Fargo & Company cut their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Oppenheimer cut their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Citigroup cut 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. Finally, Barclays cut their price target on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

About PulteGroup

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.