PulteGroup (NYSE:PHM) Stock Price Down 6.3% Following Insider Selling

Shares of PulteGroup, Inc. (NYSE:PHM) fell 6.3% during trading on Wednesday following insider selling activity. The stock traded as low as $132.73 and last traded at $131.96. 280,168 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,848,882 shares. The stock had previously closed at $140.90.

Specifically, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the sale, the executive vice president owned 14,673 shares of the company’s stock, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup increased their price target on shares of PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Zacks Research lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Barclays set a $115.00 price target on shares of PulteGroup in a report on Monday, December 8th. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, Citizens Jmp assumed coverage on PulteGroup in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price objective on the stock. Nine 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.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $140.62.

PulteGroup Stock Up 0.8%

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $129.02 and a two-hundred day simple moving average of $127.50. The firm has a market cap of $26.09 billion, a PE ratio of 12.20, a P/E/G ratio of 1.57 and a beta of 1.33.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio is 9.35%.

Hedge Funds Weigh In On PulteGroup

A number of large investors have recently added to or reduced their stakes in PHM. MidFirst Bank bought a new position in shares of PulteGroup during the fourth quarter valued at about $8,146,000. SG Trading Solutions LLC purchased a new stake in PulteGroup during the 4th quarter valued at about $202,000. Pacer Advisors Inc. boosted its holdings in PulteGroup by 8.1% during the 4th quarter. Pacer Advisors Inc. now owns 735,921 shares of the construction company’s stock valued at $86,294,000 after acquiring an additional 55,206 shares during the period. Kera Capital Partners Inc. grew its position in PulteGroup by 127.3% during the 4th quarter. Kera Capital Partners Inc. now owns 4,475 shares of the construction company’s stock worth $560,000 after acquiring an additional 2,506 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in PulteGroup in the 4th quarter worth approximately $323,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.