Shares of PulteGroup, Inc. (NYSE:PHM) traded up 14.7% on Monday . The stock traded as high as $21.93 and last traded at $21.70, 4,926,475 shares traded hands during mid-day trading. An increase of 6% from the average session volume of 4,663,906 shares. The stock had previously closed at $18.92.
A number of equities analysts have commented on the stock. Barclays reissued a “hold” rating and issued a $38.00 price target on shares of PulteGroup in a research note on Tuesday, March 17th. Bank of America raised PulteGroup from an “underperform” rating to a “neutral” rating and set a $44.00 price objective on the stock in a report on Tuesday, January 7th. Susquehanna Bancshares upgraded PulteGroup from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $50.00 to $51.00 in a research report on Tuesday, March 3rd. Wells Fargo & Co upped their price objective on shares of PulteGroup from $42.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, KeyCorp lifted their target price on shares of PulteGroup from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One 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’s stock. PulteGroup presently has a consensus rating of “Hold” and an average target price of $42.19.
The stock has a 50-day moving average price of $33.42 and a two-hundred day moving average price of $38.23. The stock has a market capitalization of $5.77 billion, a PE ratio of 5.93, a PEG ratio of 0.59 and a beta of 1.13. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.81 and a current ratio of 0.81.
The company also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.21%. PulteGroup’s dividend payout ratio is currently 13.75%.
In related news, Director Bill Pulte sold 20,198 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $40.21, for a total transaction of $812,161.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John J. Chadwick sold 13,231 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.70, for a total value of $617,887.70. Following the sale, the vice president now directly owns 71,383 shares of the company’s stock, valued at $3,333,586.10. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. AJO LP raised its stake in PulteGroup by 1,304.6% in the 4th quarter. AJO LP now owns 4,298,928 shares of the construction company’s stock valued at $166,797,000 after purchasing an additional 3,992,869 shares during the last quarter. Norges Bank acquired a new stake in shares of PulteGroup during the fourth quarter valued at about $110,791,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of PulteGroup by 490.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 2,353,643 shares of the construction company’s stock worth $91,321,000 after acquiring an additional 1,954,800 shares during the last quarter. Bank of Montreal Can boosted its position in shares of PulteGroup by 210.3% during the 4th quarter. Bank of Montreal Can now owns 2,769,992 shares of the construction company’s stock worth $107,474,000 after purchasing an additional 1,877,384 shares during the period. Finally, Man Group plc grew its stake in shares of PulteGroup by 43.7% in the fourth quarter. Man Group plc now owns 3,401,597 shares of the construction company’s stock valued at $131,982,000 after buying an additional 1,034,410 shares in the last quarter. Institutional investors and hedge funds own 90.73% of the company’s stock.
PulteGroup Company Profile (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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