Shares of PulteGroup, Inc. (NYSE:PHM) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.24 and last traded at $41.13, with a volume of 27557 shares trading hands. The stock had previously closed at $40.94.
A number of research firms have issued reports on PHM. Bank of America upgraded PulteGroup from an “underperform” rating to a “neutral” rating and set a $44.00 target price on the stock in a research note on Tuesday, January 7th. Seaport Global Securities lowered PulteGroup from a “buy” rating to a “neutral” rating in a report on Monday, November 4th. Zacks Investment Research raised PulteGroup from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a report on Wednesday, October 23rd. Goldman Sachs Group began coverage on PulteGroup in a report on Friday, December 6th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Wells Fargo & Co raised their price target on PulteGroup from $34.00 to $42.00 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.45.
The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a 50 day moving average of $39.58 and a two-hundred day moving average of $36.25. The firm has a market capitalization of $10.84 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.24 and a beta of 0.60.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Wednesday, December 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.16%. PulteGroup’s payout ratio is currently 13.37%.
In related news, SVP James L. Ossowski sold 10,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $39.95, for a total value of $399,500.00. Following the sale, the senior vice president now owns 25,750 shares of the company’s stock, valued at approximately $1,028,712.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.49% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. grew its stake in shares of PulteGroup by 3.0% in the third quarter. Winslow Evans & Crocker Inc. now owns 9,494 shares of the construction company’s stock worth $348,000 after purchasing an additional 278 shares during the last quarter. Strs Ohio grew its position in shares of PulteGroup by 1.7% during the 3rd quarter. Strs Ohio now owns 17,485 shares of the construction company’s stock valued at $639,000 after acquiring an additional 285 shares during the period. Executive Wealth Management LLC grew its position in shares of PulteGroup by 30.2% during the 3rd quarter. Executive Wealth Management LLC now owns 1,302 shares of the construction company’s stock valued at $47,000 after acquiring an additional 302 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PulteGroup by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 82,774 shares of the construction company’s stock valued at $3,025,000 after acquiring an additional 317 shares during the period. Finally, One Wealth Advisors LLC grew its position in shares of PulteGroup by 5.0% during the 2nd quarter. One Wealth Advisors LLC now owns 6,897 shares of the construction company’s stock valued at $218,000 after acquiring an additional 327 shares during the period. 86.02% of the stock is currently owned by institutional investors and hedge funds.
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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