Traders Sell Shares of PulteGroup, Inc. (PHM) on Strength Following Insider Selling
Traders sold shares of PulteGroup, Inc. (NYSE:PHM) on strength during trading hours on Monday after an insider sold shares in the company. $7.82 million flowed into the stock on the tick-up and $29.55 million flowed out of the stock on the tick-down, for a money net flow of $21.73 million out of the stock. Of all equities tracked, PulteGroup had the 0th highest net out-flow for the day. PulteGroup traded up $0.02 for the day and closed at $23.74Specifically, Director Richard J. Dugas, Jr. sold 341,222 shares of the business’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $20.78, for a total transaction of $7,090,593.16. Following the sale, the director now owns 1,216,348 shares of the company’s stock, valued at $25,275,711.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard J. Dugas, Jr. sold 3,000 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $24.00, for a total transaction of $72,000.00. Following the sale, the director now directly owns 1,052,927 shares in the company, valued at approximately $25,270,248. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 493,790 shares of company stock worth $10,357,053. Insiders own 1.83% of the company’s stock.
A number of research firms have weighed in on PHM. Barclays PLC reaffirmed an “overweight” rating and set a $24.00 target price (up previously from $23.00) on shares of PulteGroup in a research note on Tuesday, March 7th. FBR & Co raised shares of PulteGroup from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, February 14th. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Monday, January 30th. BTIG Research began coverage on shares of PulteGroup in a research note on Tuesday, February 7th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada boosted their target price on shares of PulteGroup from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $22.90.
The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 13.58 and a beta of 1.24. The company’s 50 day moving average price is $22.09 and its 200 day moving average price is $20.01.
PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. PulteGroup had a net margin of 7.86% and a return on equity of 12.29%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities analysts expect that PulteGroup, Inc. will post $2.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 10th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, March 8th. PulteGroup’s dividend payout ratio is presently 20.22%.
A number of hedge funds have recently bought and sold shares of the company. Orinda Asset Management LLC purchased a new stake in PulteGroup during the third quarter valued at about $153,000. Advisory Services Network LLC boosted its stake in PulteGroup by 5.4% in the third quarter. Advisory Services Network LLC now owns 9,811 shares of the company’s stock valued at $197,000 after buying an additional 501 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the company’s stock valued at $187,000 after buying an additional 110 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in PulteGroup during the third quarter valued at about $224,000. Finally, Cigna Investments Inc. New purchased a new stake in PulteGroup during the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 88.78% of the company’s stock.
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PulteGroup Company Profile
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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