Matthew William Koart Sells 7,457 Shares of PulteGroup (NYSE:PHM) Stock

PulteGroup, Inc. (NYSE:PHM) COO Matthew William Koart sold 7,457 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the transaction, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. The trade was a 20.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

PulteGroup Trading Down 0.9%

PHM opened at $118.00 on Friday. PulteGroup, Inc. has a one year low of $95.20 and a one year high of $144.49. The company has a market cap of $22.48 billion, a P/E ratio of 11.41, a PEG ratio of 1.51 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50-day simple moving average is $119.00 and its 200-day simple moving average is $124.06.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 EPS. As a group, equities research analysts expect that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

PulteGroup declared that its board has initiated a share repurchase program on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PHM shares. Oppenheimer restated an “outperform” rating on shares of PulteGroup in a research note on Tuesday. Barclays dropped their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Wells Fargo & Company raised their price target on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Seaport Research Partners restated a “sell” rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.71.

Institutional Trading of PulteGroup

Hedge funds have recently modified their holdings of the business. Cedar Mountain Advisors LLC lifted its holdings in shares of PulteGroup by 1,650.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after buying an additional 198 shares during the period. NFSG Corp acquired a new stake in shares of PulteGroup in the 1st quarter valued at approximately $29,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of PulteGroup in the 4th quarter valued at approximately $31,000. DV Equities LLC acquired a new stake in shares of PulteGroup in the 4th quarter valued at approximately $32,000. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of PulteGroup by 158.5% in the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after buying an additional 168 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

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.