PulteGroup (NYSE:PHM) Shares Down 2.7% - Here's Why

PulteGroup, Inc. (NYSE:PHM - Get Free Report)'s share price dropped 2.7% during trading on Friday . The stock traded as low as $138.47 and last traded at $139.18. Approximately 260,409 shares traded hands during trading, a decline of 86% from the average daily volume of 1,844,802 shares. The stock had previously closed at $142.97.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays lifted their price target on PulteGroup from $131.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Wolfe Research downgraded PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on PulteGroup from $141.00 to $152.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. Evercore ISI lifted their price target on PulteGroup from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada lifted their price target on PulteGroup from $113.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $135.93.

PulteGroup Price Performance

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 firm has a market cap of $28.94 billion, a P/E ratio of 11.16, a PEG ratio of 0.58 and a beta of 1.62. The business has a fifty day moving average of $132.62 and a 200 day moving average of $120.64.

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

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, September 17th. PulteGroup's dividend payout ratio is presently 6.41%.

Insider Transactions at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 completion of the sale, the director now owns 45,230 shares of the company's stock, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $15,814,039 over the last quarter. Company insiders own 0.83% of the company's stock.

Institutional Investors Weigh In On PulteGroup

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. acquired a new position in PulteGroup during the first quarter valued at approximately $26,000. WR Wealth Planners LLC raised 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 valued at $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC acquired a new position in PulteGroup during the first quarter valued at approximately $28,000. Rothschild Investment LLC acquired a new position in PulteGroup during the second quarter valued at approximately $31,000. Finally, Candriam S.C.A. acquired a new position in PulteGroup during the second quarter valued at approximately $33,000. 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.