PulteGroup (NYSE:PHM) Shares Gap Down - Time to Sell?

PulteGroup, Inc. (NYSE:PHM - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $133.88, but opened at $124.59. PulteGroup shares last traded at $125.70, with a volume of 491,779 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PHM. BTIG Research upped their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Bank of America increased their price target on PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Wolfe Research lowered shares of PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Wedbush reiterated a "neutral" rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their price objective on PulteGroup from $113.00 to $120.00 and gave the company a "sector perform" rating in a report on Wednesday, July 24th. Six 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.com, PulteGroup presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.00.

PulteGroup Stock Performance

The firm has a market capitalization of $26.57 billion, a P/E ratio of 10.27, a PEG ratio of 0.54 and a beta of 1.62. The company has a 50-day simple moving average of $137.31 and a two-hundred day simple moving average of $123.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.90 earnings per share. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.98 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. PulteGroup's dividend payout ratio (DPR) is presently 6.41%.

Insider Transactions at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 completion of the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the company's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,000 shares of company stock worth $15,814,039. Corporate insiders own 0.83% of the company's stock.

Institutional Investors Weigh In On PulteGroup

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL increased its stake in PulteGroup by 1.9% during the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company's stock worth $3,289,000 after acquiring an additional 516 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of PulteGroup by 6.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company's stock valued at $35,890,000 after purchasing an additional 17,369 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in PulteGroup by 4.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company's stock worth $74,913,000 after buying an additional 28,774 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in PulteGroup by 1.1% in the 1st quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company's stock valued at $55,993,000 after purchasing an additional 5,022 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of PulteGroup by 34.4% in the 1st quarter. Russell Investments Group Ltd. now owns 679,940 shares of the construction company's stock worth $81,901,000 after buying an additional 173,914 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Company Profile

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.