Insider Selling: PulteGroup (NYSE:PHM) EVP Sells 5,173 Shares of Stock
by Danessa Lincoln · The Markets DailyPulteGroup, Inc. (NYSE:PHM – Get Free Report) EVP Kevin Henry sold 5,173 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the transaction, the executive vice president owned 14,673 shares in the company, valued at approximately $2,069,333.19. The trade was a 26.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
PulteGroup Trading Up 0.5%
NYSE:PHM traded up $0.70 during trading hours on Tuesday, reaching $140.91. 1,112,206 shares of the company were exchanged, compared to its average volume of 1,897,327. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.63 and a beta of 1.33. The stock has a 50 day simple moving average of $128.17 and a 200 day simple moving average of $127.25. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $144.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01.
PulteGroup Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is 9.35%.
Analyst Ratings Changes
Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. BTIG Research began coverage on shares of PulteGroup in a research report on Monday, December 1st. They set a “neutral” rating for the company. The Goldman Sachs Group increased their price target on PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Citigroup boosted their price objective on PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Evercore increased their target price on PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $140.62.
Read Our Latest Research Report on PulteGroup
Institutional Trading of PulteGroup
Several institutional investors and hedge funds have recently bought and sold shares of PHM. Railway Pension Investments Ltd boosted its position in shares of PulteGroup by 2.4% during the second quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after buying an additional 3,200 shares during the period. Nisa Investment Advisors LLC raised its stake in PulteGroup by 10.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after acquiring an additional 10,028 shares in the last quarter. Principal Financial Group Inc. boosted its position in PulteGroup by 24.2% during the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock worth $41,348,000 after acquiring an additional 61,009 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of PulteGroup by 16.1% during the third quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock valued at $49,050,000 after purchasing an additional 51,506 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in shares of PulteGroup by 129.5% during the second quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock valued at $15,778,000 after purchasing an additional 85,637 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.
About PulteGroup
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.