PulteGroup (NYSE:PHM) Hits New 52-Week High – Here’s What Happened

PulteGroup, Inc. (NYSE:PHM) reached a new 52-week high during trading on Thursday . The company traded as high as $142.65 and last traded at $141.0780, with a volume of 119611 shares trading hands. The stock had previously closed at $139.32.

Analysts Set New Price Targets

Several equities analysts have recently commented on PHM shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $144.00 price target on shares of PulteGroup in a research report on Tuesday, January 13th. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Evercore increased their target price on PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. Finally, Raymond James Financial restated an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a research report on Wednesday, February 4th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.15.

PulteGroup Stock Performance

The company has a market capitalization of $26.92 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.57 and a beta of 1.33. The firm’s 50 day simple moving average is $125.84 and its 200-day simple moving average is $125.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is currently 9.35%.

Insider Activity at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.51, for a total value of $542,040.00. Following the completion of the sale, the vice president owned 8,601 shares in the company, valued at $1,165,521.51. This represents a 31.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the transaction, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. This trade represents a 26.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 144,779 shares of company stock worth $19,432,616 in the last 90 days. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Several large investors have recently made changes to their positions in PHM. Sfam LLC acquired a new stake in PulteGroup in the fourth quarter valued at approximately $47,000. Wayfinding Financial LLC lifted its stake in shares of PulteGroup by 11.6% in the 4th quarter. Wayfinding Financial LLC now owns 1,839 shares of the construction company’s stock valued at $216,000 after purchasing an additional 191 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of PulteGroup by 1.6% in the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 44,993 shares of the construction company’s stock valued at $5,276,000 after purchasing an additional 719 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in PulteGroup by 4.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,524 shares of the construction company’s stock worth $765,000 after purchasing an additional 252 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in PulteGroup by 21.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 51,264 shares of the construction company’s stock worth $6,011,000 after buying an additional 9,223 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.