PulteGroup, Inc. (NYSE:PHM) Short Interest Update

PulteGroup, Inc. (NYSE:PHM - Get Free Report) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 5,590,000 shares, a growth of 15.3% from the January 15th total of 4,850,000 shares. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily volume of 2,030,000 shares, the days-to-cover ratio is presently 2.8 days.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now directly owns 56,617 shares of the company's stock, valued at $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 over the last three months. 0.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new position in PulteGroup in the third quarter valued at $29,000. Hager Investment Management Services LLC bought a new position in PulteGroup in the fourth quarter valued at $29,000. JNBA Financial Advisors bought a new position in PulteGroup in the third quarter valued at $43,000. Finally, TD Waterhouse Canada Inc. grew its position in PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PHM. Wells Fargo & Company cut their price objective on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Bank of America cut their price objective on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Oppenheimer cut their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. StockNews.com lowered shares of PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Finally, Barclays cut their price objective on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and an average target price of $140.86.

PulteGroup Stock Up 0.9 %

Shares of PHM stock traded up $0.94 during trading hours on Thursday, hitting $105.80. 1,694,342 shares of the company were exchanged, compared to its average volume of 2,234,123. The business has a 50 day moving average of $111.47 and a two-hundred day moving average of $125.63. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup has a 52 week low of $101.13 and a 52 week high of $149.47. The company has a market capitalization of $21.42 billion, a PE ratio of 7.19, a PEG ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Analysts anticipate that PulteGroup will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, March 18th. PulteGroup's dividend payout ratio is 5.98%.

PulteGroup announced that its Board of Directors has initiated a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

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.