PulteGroup, Inc. (NYSE:PHM) Short Interest Up 24.4% in December

PulteGroup, Inc. (NYSE:PHM) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 7,747,067 shares, an increase of 24.4% from the November 30th total of 6,225,580 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average trading volume of 1,497,827 shares, the short-interest ratio is presently 5.2 days. Based on an average trading volume of 1,497,827 shares, the short-interest ratio is presently 5.2 days. Approximately 4.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research analysts have weighed in on PHM shares. Citigroup lifted their target price on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price objective on shares of PulteGroup from $136.00 to $149.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a research report on Tuesday, October 21st. Finally, Bank of America reduced their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $137.25.

Hedge Funds Weigh In On PulteGroup

Several hedge funds have recently added to or reduced their stakes in the business. Evergreen Capital Management LLC grew its position in shares of PulteGroup by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after purchasing an additional 78 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in PulteGroup by 1.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after buying an additional 85 shares in the last quarter. Apella Capital LLC grew its holdings in PulteGroup by 4.2% during the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock valued at $268,000 after buying an additional 87 shares during the last quarter. Cooper Financial Group increased its position in PulteGroup by 1.4% during the second quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock worth $706,000 after buying an additional 92 shares in the last quarter. Finally, CWM LLC increased its position in PulteGroup by 0.6% during the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock worth $1,890,000 after buying an additional 92 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

PulteGroup stock traded down $0.52 during mid-day trading on Wednesday, reaching $117.61. The company had a trading volume of 207,035 shares, compared to its average volume of 2,113,261. The stock’s 50-day simple moving average is $121.44 and its 200-day simple moving average is $121.83. PulteGroup has a 1 year low of $88.07 and a 1 year high of $142.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $22.92 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.95 and a beta of 1.31.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.35 EPS. On average, equities analysts predict that PulteGroup will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.26 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio is presently 8.01%.

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.