Shares of PulteGroup, Inc. (NYSE:PHM) rose 11.7% during mid-day trading on Wednesday . The company traded as high as $22.49 and last traded at $24.66, approximately 684,763 shares changed hands during mid-day trading. A decline of 89% from the average daily volume of 6,485,093 shares. The stock had previously closed at $22.08.
A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target on PulteGroup from $39.00 to $44.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Wells Fargo & Co increased their price target on PulteGroup from $42.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Evercore ISI raised PulteGroup from an “in-line” rating to an “outperform” rating and increased their price target for the company from $43.00 to $49.00 in a research note on Tuesday, January 28th. Goldman Sachs Group assumed coverage on PulteGroup in a research note on Friday, December 6th. They set a “buy” rating and a $45.00 price target for the company. Finally, ValuEngine lowered PulteGroup from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.19.
The business has a 50-day moving average price of $38.32 and a 200 day moving average price of $38.88. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 7.02, a P/E/G ratio of 0.69 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.51.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 13th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.87%. PulteGroup’s dividend payout ratio (DPR) is presently 13.75%.
In other news, VP John J. Chadwick sold 13,231 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.70, for a total transaction of $617,887.70. Following the completion of the sale, the vice president now owns 71,383 shares in the company, valued at approximately $3,333,586.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bill Pulte sold 20,198 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $40.21, for a total value of $812,161.58. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in shares of PulteGroup by 16.8% during the fourth quarter. Parallel Advisors LLC now owns 1,809 shares of the construction company’s stock worth $70,000 after acquiring an additional 260 shares in the last quarter. CWM LLC raised its holdings in shares of PulteGroup by 51.3% during the fourth quarter. CWM LLC now owns 793 shares of the construction company’s stock worth $31,000 after acquiring an additional 269 shares in the last quarter. Executive Wealth Management LLC raised its holdings in shares of PulteGroup by 30.2% during the third quarter. Executive Wealth Management LLC now owns 1,302 shares of the construction company’s stock worth $47,000 after acquiring an additional 302 shares in the last quarter. Advisor Partners LLC raised its holdings in shares of PulteGroup by 3.6% during the fourth quarter. Advisor Partners LLC now owns 9,349 shares of the construction company’s stock worth $386,000 after acquiring an additional 325 shares in the last quarter. Finally, 6 Meridian raised its holdings in shares of PulteGroup by 2.1% during the fourth quarter. 6 Meridian now owns 17,179 shares of the construction company’s stock worth $667,000 after acquiring an additional 359 shares in the last quarter. Institutional investors own 90.73% of the company’s stock.
About PulteGroup (NYSE:PHM)
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
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