PulteGroup (NYSE:PHM) Reaches New 52-Week High – Here’s Why

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PHM. Zacks Research cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Wells Fargo & Company boosted their target price on shares of PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Citizens Jmp started coverage on PulteGroup in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price target on the stock. Barclays set a $115.00 price objective on PulteGroup in a research note on Monday, December 8th. Finally, Oppenheimer restated an “outperform” rating and set a $149.00 target price (up previously from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $140.15.

PulteGroup Stock Up 0.4%

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

PulteGroup Dividend Announcement

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

Insider Buying and Selling at PulteGroup

In related news, insider Ryan Marshall sold 111,250 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the transaction, the insider owned 659,392 shares of the company’s stock, valued at $88,266,213.12. This represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the transaction, the executive vice president owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. This represents a 16.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 144,779 shares of company stock worth $19,432,616. Insiders own 0.76% of the company’s stock.

Institutional Trading of PulteGroup

A number of large investors have recently bought and sold shares of the stock. Focus Partners Wealth grew its holdings in shares of PulteGroup by 20.5% in the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after purchasing an additional 2,128 shares during the last quarter. Callan Family Office LLC raised its holdings in shares of PulteGroup by 96.4% in the second quarter. Callan Family Office LLC now owns 4,415 shares of the construction company’s stock valued at $466,000 after buying an additional 2,167 shares during the last quarter. Blue Trust Inc. lifted its position in PulteGroup by 10.7% during the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the construction company’s stock worth $181,000 after buying an additional 166 shares in the last quarter. Aberdeen Group plc grew its holdings in PulteGroup by 8.8% during the 2nd quarter. Aberdeen Group plc now owns 64,998 shares of the construction company’s stock worth $6,855,000 after acquiring an additional 5,253 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in PulteGroup by 0.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company’s stock worth $1,227,000 after acquiring an additional 103 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

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.