PulteGroup (NYSE:PHM) COO Matthew William Koart Sells 7,457 Shares

PulteGroup, Inc. (NYSE:PHM) COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $119.06 on Thursday. 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, Inc. has a fifty-two week low of $95.20 and a fifty-two week high of $144.49. The firm has a fifty day moving average price of $119.08 and a two-hundred day moving average price of $124.07. The company has a market cap of $22.68 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23.

PulteGroup (NYSE:PHM) last issued its quarterly 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 net margin of 12.14% and a return on equity of 16.41%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the company earned $2.57 earnings per share. PulteGroup’s revenue for the quarter was down 12.4% on a year-over-year basis. Analysts expect that PulteGroup, Inc. will post 10 EPS for the current year.

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

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. PulteGroup’s dividend payout ratio is 10.06%.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Barclays reduced their price target on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Citigroup increased their price target on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 24th. The Goldman Sachs Group raised their price objective on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $140.71.

Hedge Funds Weigh In On PulteGroup

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cedar Mountain Advisors LLC lifted its holdings in PulteGroup by 1,650.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. NFSG Corp bought a new position in PulteGroup during the 1st quarter valued at about $29,000. Rachor Investment Advisory Services LLC bought a new position in PulteGroup during the 4th quarter valued at about $31,000. HHM Wealth Advisors LLC lifted its holdings in PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. Finally, DV Equities LLC bought a new position in PulteGroup during the 4th quarter valued at about $32,000. 89.90% of the stock is owned by institutional investors.

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.