PulteGroup (NYSE:PHM) Shares Gap Up to $106.15

PulteGroup, Inc. (NYSE:PHM)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $106.15, but opened at $109.50. PulteGroup shares last traded at $108.06, with a volume of 107,398 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PHM. Wedbush restated a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a research report on Wednesday, January 31st. UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and upped their price target for the company from $93.00 to $120.00 in a research report on Thursday, January 4th. Royal Bank of Canada upped their price target on PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Raymond James upped their price target on PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.47.

PulteGroup Stock Down 0.5 %

The firm has a 50-day moving average of $110.49 and a two-hundred day moving average of $98.05. The company has a market capitalization of $22.25 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the business posted $3.63 earnings per share. The company’s quarterly revenue was down 15.5% on a year-over-year basis. Equities research analysts predict that PulteGroup, Inc. will post 11.79 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.76%. PulteGroup’s dividend payout ratio is currently 6.81%.

PulteGroup declared that its board has approved a stock repurchase program on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.83% of the company’s stock.

Institutional Trading of PulteGroup

Several hedge funds have recently modified their holdings of PHM. Clear Street Markets LLC raised its stake in shares of PulteGroup by 90.9% in the first quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock valued at $26,000 after acquiring an additional 210 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of PulteGroup in the fourth quarter valued at $26,000. Coppell Advisory Solutions LLC acquired a new stake in PulteGroup in the second quarter valued at $29,000. Arlington Trust Co LLC acquired a new stake in PulteGroup in the third quarter valued at $33,000. Finally, Baystate Wealth Management LLC raised its stake in PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after buying an additional 319 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.