PulteGroup (NYSE:PHM) Reaches New 12-Month Low – Here’s What Happened

Shares of PulteGroup, Inc. (NYSE:PHM) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $107.32 and last traded at $107.6140, with a volume of 407,054 shares traded. The stock had previously closed at $111.58.

Analysts Set New Price Targets

A number of analysts have commented on PHM shares. The Goldman Sachs Group set a $138.00 target price on PulteGroup in a research report on Monday. Evercore reaffirmed an “outperform” rating on shares of PulteGroup in a research report on Friday, September 25th. Weiss Ratings cut shares of PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. Melius Research assumed coverage on shares of PulteGroup in a research report on Tuesday, October 6th. They set a “hold” rating and a $132.00 target price for the company. Finally, Piper Sandler cut PulteGroup to a “hold” rating and set a $145.00 price objective on the stock. in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.94.

PulteGroup Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $20.29 billion, a PE ratio of 11.06, a P/E/G ratio of 1.54 and a beta of 1.16. The firm has a fifty day moving average price of $122.48 and a 200 day moving average price of $122.87.

PulteGroup (NYSE:PHM) last released its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.03 earnings per share. Research analysts anticipate that PulteGroup, Inc. will post 10.08 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. PulteGroup’s dividend payout ratio (DPR) is presently 10.62%.

Institutional Investors Weigh In On PulteGroup

Several large investors have recently made changes to their positions in PHM. Cedar Mountain Advisors LLC raised its position in PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. NFSG Corp bought a new position in shares of PulteGroup during the 1st quarter valued at $29,000. HHM Wealth Advisors LLC raised its holdings in shares of PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Evelyn Partners Investment Management Services Ltd acquired a new stake in shares of PulteGroup in the 1st quarter valued at $37,000. Finally, Mcdonald Partners LLC bought a new stake in PulteGroup in the second quarter worth $43,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc is a homebuilding company headquartered in Atlanta, Georgia. Founded in 1950 by William J. Pulte, the company develops, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers.

The company operates through several well-known brands, including Pulte Homes, Centex, Del Webb and DiVosta. Its offerings include single-family homes and related residential developments, with designs and communities tailored to different lifestyles, price points and stages of homeownership.

PulteGroup serves homebuyers across numerous markets in the United States.