PulteGroup (NYSE:PHM) Hits New 1-Year High – Still a Buy?

PulteGroup, Inc. (NYSE:PHM)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $144.50 and last traded at $141.55, with a volume of 1848098 shares traded. The stock had previously closed at $142.56.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PHM shares. Barclays set a $115.00 price objective on PulteGroup in a research note on Monday, December 8th. UBS Group decreased their price target on PulteGroup from $160.00 to $159.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. JPMorgan Chase & Co. lowered their price objective on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Citizens Jmp assumed coverage on shares of PulteGroup in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 target price on the stock. Finally, BTIG Research started coverage on shares of PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.15.

PulteGroup Stock Up 0.2%

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $26.92 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33. The company has a 50-day moving average of $127.90 and a two-hundred day moving average of $127.02.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is 9.35%.

Insider Buying and Selling

In other news, EVP Todd N. Sheldon sold 14,220 shares of PulteGroup stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.01, for a total value of $1,919,842.20. Following the completion of the transaction, the executive vice president owned 69,753 shares of the company’s stock, valued at $9,417,352.53. The trade was a 16.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew William Koart sold 15,309 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the sale, the chief operating officer owned 42,418 shares of the company’s stock, valued at approximately $5,759,940.22. This represents a 26.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 144,779 shares of company stock valued at $19,432,616. 0.76% of the stock is owned by insiders.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Railway Pension Investments Ltd increased its stake in PulteGroup by 2.4% during the second quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after acquiring an additional 3,200 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of PulteGroup by 10.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after purchasing an additional 10,028 shares during the period. Principal Financial Group Inc. increased its position in shares of PulteGroup by 24.2% during the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock valued at $41,348,000 after purchasing an additional 61,009 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of PulteGroup by 16.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock valued at $49,050,000 after purchasing an additional 51,506 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in PulteGroup by 129.5% in the second quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock worth $15,778,000 after buying an additional 85,637 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

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.