PulteGroup, Inc. (NYSE:PHM) Short Interest Update

PulteGroup, Inc. (NYSE:PHM) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 6,664,467 shares, a decrease of 15.7% from the March 31st total of 7,901,715 shares. Based on an average daily volume of 1,946,999 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.5% of the company’s stock are short sold.

PulteGroup Stock Performance

Shares of NYSE PHM traded down $2.92 during midday trading on Friday, reaching $119.44. The company’s stock had a trading volume of 1,295,730 shares, compared to its average volume of 1,929,183. PulteGroup has a 12-month low of $95.20 and a 12-month high of $144.49. The firm has a 50 day moving average price of $124.18 and a 200-day moving average price of $124.68. The stock has a market capitalization of $22.75 billion, a P/E ratio of 11.55, a PEG ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the firm earned $2.57 EPS. PulteGroup’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, equities analysts predict that PulteGroup will post 10.02 earnings per share for the current year.

PulteGroup announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

Insider Activity at PulteGroup

In other news, VP Brien P. O’meara sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the transaction, the vice president directly owned 8,601 shares of the company’s stock, valued at $1,165,521.51. This represents a 31.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew William Koart sold 15,309 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.79, for a total value of $2,078,809.11. Following the transaction, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. The trade was a 26.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 149,952 shares of company stock valued at $20,162,165 over the last three months. 0.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PulteGroup

Several large investors have recently made changes to their positions in PHM. Focus Partners Wealth increased its position in shares of PulteGroup by 20.5% during the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after purchasing an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of PulteGroup by 197.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after purchasing an additional 804 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of PulteGroup by 12.9% during the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after purchasing an additional 975 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of PulteGroup by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after acquiring an additional 6,240 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PHM shares. Royal Bank Of Canada upped their target price on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Truist Financial lowered their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Citigroup increased their price target on PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $149.00 price target (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.71.

About PulteGroup

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.