Traders Sell Shares of PulteGroup, Inc. (PHM) on Strength Following Insider Selling
Traders sold shares of PulteGroup, Inc. (NYSE:PHM) on strength during trading on Monday following insider selling activity. $7.82 million flowed into the stock on the tick-up and $29.55 million flowed out of the stock on the tick-down, for a money net flow of $21.73 million out of the stock. Of all equities tracked, PulteGroup had the 21st highest net out-flow for the day. PulteGroup traded up $0.02 for the day and closed at $23.74Specifically, Director Richard J. Dugas, Jr. sold 3,000 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $24.00, for a total value of $72,000.00. Following the transaction, the director now owns 1,052,927 shares of the company’s stock, valued at $25,270,248. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven M. Cook sold 20,000 shares of the stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $21.33, for a total value of $426,600.00. Following the completion of the transaction, the executive vice president now directly 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 ninety days, insiders sold 493,790 shares of company stock worth $10,357,053. Insiders own 1.83% of the company’s stock.
Several analysts have issued reports on PHM shares. Bank of America Corp upgraded shares of PulteGroup from an “underperform” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, January 27th. Zacks Investment Research lowered shares of PulteGroup from a “hold” rating to a “sell” rating in a research report on Wednesday, December 21st. Barclays PLC started coverage on shares of PulteGroup in a research report on Thursday, January 5th. They set an “overweight” rating and a $21.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $24.00 price target (up from $22.00) on shares of PulteGroup in a research report on Friday, January 27th. Finally, BTIG Research started coverage on shares of PulteGroup in a research report on Tuesday, February 7th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. PulteGroup currently has a consensus rating of “Hold” and a consensus price target of $22.90.
The firm has a 50 day moving average price of $22.09 and a 200-day moving average price of $20.01. The stock has a market capitalization of $7.55 billion, a P/E ratio of 13.58 and a beta of 1.24.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.32 billion. PulteGroup had a net margin of 7.86% and a return on equity of 12.29%. PulteGroup’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. Equities research analysts predict that PulteGroup, Inc. will post $2.23 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 10th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.52%. PulteGroup’s dividend payout ratio is currently 20.22%.
A number of hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of PulteGroup by 3.1% in the fourth quarter. State Street Corp now owns 15,724,471 shares of the company’s stock worth $289,011,000 after buying an additional 471,526 shares in the last quarter. FMR LLC increased its stake in shares of PulteGroup by 2.0% in the fourth quarter. FMR LLC now owns 10,951,981 shares of the company’s stock worth $201,297,000 after buying an additional 217,846 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PulteGroup by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,304,550 shares of the company’s stock worth $189,404,000 after buying an additional 772,078 shares in the last quarter. Greenhaven Associates Inc. increased its stake in shares of PulteGroup by 16.9% in the third quarter. Greenhaven Associates Inc. now owns 5,551,865 shares of the company’s stock worth $111,259,000 after buying an additional 800,784 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of PulteGroup during the fourth quarter worth about $61,761,000. Institutional investors own 88.78% of the company’s stock.
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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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