PulteGroup (PHM) Shares Gap Down to $22.44

Shares of PulteGroup, Inc. (NYSE:PHM) gapped down before the market opened on Friday . The stock had previously closed at $22.58, but opened at $22.44. PulteGroup shares last traded at $21.78, with a volume of 246542 shares changing hands.

PHM has been the subject of a number of recent analyst reports. ValuEngine downgraded PulteGroup from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Bank of America set a $32.00 target price on PulteGroup and gave the company a “buy” rating in a research report on Thursday, October 11th. JPMorgan Chase & Co. downgraded PulteGroup from an “overweight” rating to an “underweight” rating and cut their target price for the company from $37.50 to $28.00 in a research report on Friday, September 21st. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Monday, July 30th. Finally, BTIG Research downgraded PulteGroup from a “neutral” rating to a “sell” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. PulteGroup currently has a consensus rating of “Hold” and a consensus target price of $33.21.

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 0.35 and a beta of 1.03.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, July 26th. The construction company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.15. PulteGroup had a return on equity of 19.95% and a net margin of 7.92%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the company earned $0.47 EPS. PulteGroup’s revenue for the quarter was up 27.1% on a year-over-year basis. Equities analysts forecast that PulteGroup, Inc. will post 3.51 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.67%. PulteGroup’s dividend payout ratio is currently 16.44%.

In other PulteGroup news, Director Brian P. Anderson sold 5,000 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $28.96, for a total value of $144,800.00. Following the completion of the transaction, the director now directly owns 101,235 shares in the company, valued at $2,931,765.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC bought a new position in PulteGroup in the second quarter valued at about $112,000. Rehmann Capital Advisory Group raised its position in PulteGroup by 54.9% in the second quarter. Rehmann Capital Advisory Group now owns 6,187 shares of the construction company’s stock valued at $178,000 after purchasing an additional 2,193 shares during the last quarter. Raymond James Trust N.A. bought a new position in PulteGroup in the second quarter valued at about $232,000. Segall Bryant & Hamill LLC bought a new position in PulteGroup in the second quarter valued at about $232,000. Finally, Mariner LLC raised its position in PulteGroup by 26.3% in the first quarter. Mariner LLC now owns 9,173 shares of the construction company’s stock valued at $270,000 after purchasing an additional 1,911 shares during the last quarter. Hedge funds and other institutional investors own 86.54% 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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