PulteGroup (NYSE:PHM) Sets New 12-Month Low – Time to Sell?

PulteGroup, Inc. (NYSE:PHM)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $100.35 and last traded at $102.91, with a volume of 1037045 shares traded. The stock had previously closed at $105.34.

Analyst Ratings Changes

A number of equities analysts have commented on PHM shares. UBS Group upped their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Trading Down 2.2 %

The stock has a market capitalization of $20.86 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 0.29 and a beta of 1.71. The business’s 50-day simple moving average is $108.63 and its two-hundred day simple moving average is $122.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (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%. On average, research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. PulteGroup’s dividend payout ratio is currently 5.98%.

PulteGroup announced that its Board of Directors has initiated a share repurchase program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Brian P. Anderson sold 2,500 shares of PulteGroup 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 completion of the sale, the director now owns 56,617 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup 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 completion of the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Hedge funds have recently added to or reduced their stakes in the business. Hager Investment Management Services LLC acquired a new position in PulteGroup in the fourth quarter worth $29,000. Fortitude Family Office LLC boosted its holdings in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after purchasing an additional 137 shares during the period. Ameriflex Group Inc. acquired a new position in PulteGroup in the fourth quarter worth $37,000. TD Waterhouse Canada Inc. boosted its holdings in PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after purchasing an additional 105 shares during the period. Finally, R Squared Ltd acquired a new position in PulteGroup in the fourth quarter worth $39,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

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.