PulteGroup (PHM) Shares Gap Up to $22.14

Shares of PulteGroup, Inc. (NYSE:PHM) gapped up prior to trading on Thursday . The stock had previously closed at $21.57, but opened at $22.14. PulteGroup shares last traded at $23.16, with a volume of 12773840 shares traded.

PHM has been the topic of a number of research reports. ValuEngine downgraded PulteGroup from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 27th. Deutsche Bank reissued a “hold” rating and issued a $24.00 price objective (down previously from $34.00) on shares of PulteGroup in a research note on Monday. Bank of America set a $32.00 price objective on PulteGroup and gave the stock a “buy” rating in a research note on Thursday, October 11th. JPMorgan Chase & Co. cut PulteGroup from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $37.50 to $28.00 in a report on Friday, September 21st. Finally, Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. PulteGroup currently has a consensus rating of “Hold” and a consensus price target of $31.13.

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.93 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 0.32 and a beta of 1.03.



PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 23rd. The construction company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.06. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.62 billion. PulteGroup had a return on equity of 19.95% and a net margin of 7.92%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. Research analysts forecast that PulteGroup, Inc. will post 3.51 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, September 17th. PulteGroup’s payout ratio is 16.44%.

In other news, Director Brian P. Anderson sold 5,000 shares of PulteGroup stock in a transaction on Monday, August 27th. The stock was sold at an average price of $28.96, for a total transaction of $144,800.00. Following the transaction, the director now owns 101,235 shares in the company, valued at $2,931,765.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.86% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. James Investment Research Inc. grew its holdings in shares of PulteGroup by 5.9% during the third quarter. James Investment Research Inc. now owns 96,853 shares of the construction company’s stock valued at $2,399,000 after buying an additional 5,356 shares in the last quarter. Argyle Capital Management Inc. grew its holdings in shares of PulteGroup by 11.2% during the third quarter. Argyle Capital Management Inc. now owns 93,950 shares of the construction company’s stock valued at $2,327,000 after buying an additional 9,500 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of PulteGroup during the third quarter valued at $452,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of PulteGroup by 51.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 366,630 shares of the construction company’s stock valued at $9,082,000 after buying an additional 124,806 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of PulteGroup by 163.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,517,431 shares of the construction company’s stock valued at $37,586,000 after buying an additional 942,057 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

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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