Investors Buy PulteGroup (PHM) on Weakness After Analyst Downgrade

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Investors purchased shares of PulteGroup, Inc. (NYSE:PHM) on weakness during trading hours on Wednesday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. $35.60 million flowed into the stock on the tick-up and $28.57 million flowed out of the stock on the tick-down, for a money net flow of $7.03 million into the stock. Of all companies tracked, PulteGroup had the 27th highest net in-flow for the day. PulteGroup traded down ($0.01) for the day and closed at $27.24

A number of other brokerages have also recently commented on PHM. Mizuho set a $28.00 price objective on shares of PulteGroup and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Barclays set a $24.00 target price on shares of PulteGroup and gave the stock a “hold” rating in a report on Wednesday, December 12th. Buckingham Research started coverage on shares of PulteGroup in a report on Friday, January 11th. They issued a “neutral” rating and a $30.00 target price for the company. They noted that the move was a valuation call. ValuEngine upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Royal Bank of Canada lowered shares of PulteGroup from a “sector perform” rating to an “underperform” rating and set a $25.00 target price for the company. in a report on Friday, January 11th. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.36.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its holdings in PulteGroup by 8.5% during the 3rd quarter. Vanguard Group Inc now owns 30,373,220 shares of the construction company’s stock valued at $752,345,000 after buying an additional 2,378,937 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in PulteGroup by 26.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,749,795 shares of the construction company’s stock valued at $216,733,000 after buying an additional 1,834,260 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PulteGroup by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,169,124 shares of the construction company’s stock valued at $202,356,000 after buying an additional 497,053 shares in the last quarter. LSV Asset Management lifted its holdings in PulteGroup by 121.7% during the 3rd quarter. LSV Asset Management now owns 8,122,687 shares of the construction company’s stock valued at $201,198,000 after buying an additional 4,459,360 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in PulteGroup by 53.9% during the 3rd quarter. American Century Companies Inc. now owns 6,096,979 shares of the construction company’s stock valued at $151,022,000 after buying an additional 2,136,034 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.44 and a beta of 0.79. The company has a current ratio of 0.77, a quick ratio of 0.56 and a debt-to-equity ratio of 0.63.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 29th. The construction company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. PulteGroup had a net margin of 10.03% and a return on equity of 22.51%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business posted $0.85 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that PulteGroup, Inc. will post 3.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 3rd. Investors of record on Tuesday, December 18th were issued a dividend of $0.11 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, December 17th. This represents a $0.44 dividend on an annualized basis and a yield of 1.58%. PulteGroup’s dividend payout ratio (DPR) is presently 12.26%.

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PulteGroup Company Profile (NYSE:PHM)

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.

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