PulteGroup, Inc. (PHM) Insider Sells $4,066,286.40 in Stock
PulteGroup, Inc. (NYSE:PHM) insider James R. Ellinghausen sold 136,912 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $29.70, for a total value of $4,066,286.40. Following the completion of the sale, the insider now owns 294,369 shares in the company, valued at approximately $8,742,759.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of PulteGroup, Inc. (PHM) traded down 0.93% during mid-day trading on Monday, reaching $29.79. The company had a trading volume of 7,692,219 shares. The company has a 50 day moving average price of $27.14 and a 200 day moving average price of $24.88. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 16.49 and a beta of 1.06. PulteGroup, Inc. has a one year low of $17.69 and a one year high of $30.33.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 24th. The construction company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.01. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the firm earned $0.43 EPS. PulteGroup’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts anticipate that PulteGroup, Inc. will post $2.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 19th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.21%. PulteGroup’s payout ratio is presently 17.91%.
A number of brokerages have recently issued reports on PHM. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a research note on Monday. Barclays PLC set a $26.00 price objective on PulteGroup and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Bank of America Corporation set a $34.00 price objective on PulteGroup and gave the stock a “buy” rating in a research note on Wednesday, October 25th. FBR & Co reiterated a “buy” rating and set a $31.00 price objective (up previously from $28.00) on shares of PulteGroup in a research note on Wednesday, October 25th. Finally, Royal Bank Of Canada boosted their target price on PulteGroup from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. PulteGroup has an average rating of “Hold” and an average target price of $28.67.
Several institutional investors have recently modified their holdings of PHM. Fiera Capital Corp purchased a new position in shares of PulteGroup during the second quarter valued at about $45,333,000. LSV Asset Management grew its position in shares of PulteGroup by 150.9% during the second quarter. LSV Asset Management now owns 2,029,335 shares of the construction company’s stock valued at $49,779,000 after purchasing an additional 1,220,579 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of PulteGroup during the second quarter valued at about $29,436,000. Parametric Portfolio Associates LLC grew its position in shares of PulteGroup by 146.9% during the second quarter. Parametric Portfolio Associates LLC now owns 1,566,185 shares of the construction company’s stock valued at $38,419,000 after purchasing an additional 931,971 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of PulteGroup by 245.2% during the second quarter. Great West Life Assurance Co. Can now owns 991,165 shares of the construction company’s stock valued at $24,260,000 after purchasing an additional 704,054 shares in the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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