PulteGroup (NYSE:PHM) Reaches New 52-Week High at $145.00

PulteGroup, Inc. (NYSE:PHM - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $145.00 and last traded at $145.00, with a volume of 8064 shares trading hands. The stock had previously closed at $140.99.

Analysts Set New Price Targets

Several research firms have recently commented on PHM. Raymond James lifted their target price on PulteGroup from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Wolfe Research cut PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their target price on PulteGroup from $113.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on PulteGroup from $141.00 to $152.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. Finally, Wedbush restated a "neutral" rating and issued a $115.00 price target on shares of PulteGroup in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $134.71.

PulteGroup Trading Up 2.8 %

The company has a fifty day simple moving average of $127.82 and a two-hundred day simple moving average of $118.10. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $30.50 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating analysts' consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.00 earnings per share. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. PulteGroup's dividend payout ratio (DPR) is 6.41%.

Insider Activity

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now owns 45,230 shares of the company's stock, valued at $5,931,462.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock worth $15,814,039 over the last three months. Corporate insiders own 0.83% of the company's stock.

Hedge Funds Weigh In On PulteGroup

A number of institutional investors have recently bought and sold shares of PHM. Benjamin Edwards Inc. acquired a new position in PulteGroup during the first quarter worth approximately $26,000. WR Wealth Planners LLC increased its position in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock worth $26,000 after buying an additional 82 shares during the last quarter. LRI Investments LLC bought a new stake in shares of PulteGroup during the first quarter worth approximately $28,000. Rothschild Investment LLC bought a new stake in shares of PulteGroup during the second quarter worth approximately $31,000. Finally, Candriam S.C.A. bought a new stake in shares of PulteGroup during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 89.90% of the company's stock.

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.