Investors Buy PulteGroup, Inc. (PHM) on Weakness Following Insider Selling
Investors bought shares of PulteGroup, Inc. (NYSE:PHM) on weakness during trading hours on Thursday following insider selling activity. $44.23 million flowed into the stock on the tick-up and $27.04 million flowed out of the stock on the tick-down, for a money net flow of $17.19 million into the stock. Of all companies tracked, PulteGroup had the 8th highest net in-flow for the day. PulteGroup traded down ($0.85) for the day and closed at $23.34Specifically, COO Harmon D. Smith sold 48,010 shares of PulteGroup stock in a transaction on Monday, January 30th. The shares were sold at an average price of $21.40, for a total value of $1,027,414.00. Following the sale, the chief operating officer now owns 249,547 shares in the company, valued at $5,340,305.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven M. Cook sold 20,000 shares of PulteGroup stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $21.33, for a total transaction of $426,600.00. Following the completion of the sale, the executive vice president now owns 235,899 shares in the company, valued at approximately $5,031,725.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 670,790 shares of company stock worth $14,614,763. 1.83% of the stock is currently owned by company insiders.
Several equities analysts have commented on PHM shares. Bank of America Corp raised PulteGroup from an “underperform” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Friday, January 27th. FBR & Co raised PulteGroup from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $23.00 to $26.00 in a research report on Tuesday, February 14th. BTIG Research started coverage on PulteGroup in a research report on Tuesday, February 7th. They set a “neutral” rating for the company. Zacks Investment Research raised PulteGroup from a “sell” rating to a “hold” rating in a research report on Wednesday, December 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price objective (up previously from $22.00) on shares of PulteGroup in a research report on Friday, January 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. PulteGroup presently has a consensus rating of “Hold” and an average target price of $22.90.
The firm has a 50-day moving average price of $23.44 and a 200 day moving average price of $20.58. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 13.35 and a beta of 1.24.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, January 26th. The construction company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.08. PulteGroup had a return on equity of 12.29% and a net margin of 7.86%. The firm earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that PulteGroup, Inc. will post $2.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 4th. Stockholders of record on Friday, March 10th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, March 8th. PulteGroup’s payout ratio is 20.22%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Trust Department MB Financial Bank N A purchased a new position in shares of PulteGroup during the first quarter valued at about $129,000. Orinda Asset Management LLC purchased a new position in shares of PulteGroup during the third quarter valued at about $153,000. Thrivent Financial for Lutherans boosted its position in shares of PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock valued at $187,000 after buying an additional 110 shares during the last quarter. Cigna Investments Inc. New bought a new position in shares of PulteGroup during the fourth quarter valued at $208,000. Finally, Blenheim Capital Management BV bought a new position in shares of PulteGroup during the fourth quarter valued at $220,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.
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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