PulteGroup (NYSE:PHM) Hits New 12-Month Low After Analyst Downgrade

PulteGroup, Inc. (NYSE:PHM - Get Free Report) hit a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $117.00 to $100.00. Barclays currently has an equal weight rating on the stock. PulteGroup traded as low as $93.42 and last traded at $93.60, with a volume of 887926 shares traded. The stock had previously closed at $96.14.

Several other research analysts have also recently weighed in on PHM. UBS Group increased their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a report on Friday, January 31st. Oppenheimer lowered their price objective on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Citigroup cut their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $139.64.

Insider Activity at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now owns 56,617 shares of the company's stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brien P. O'meara sold 3,500 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by insiders.

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Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Elk River Wealth Management LLC increased its position in PulteGroup by 0.3% in the 1st quarter. Elk River Wealth Management LLC now owns 84,577 shares of the construction company's stock valued at $8,713,000 after acquiring an additional 228 shares during the period. Hudson Capital Management LLC grew its stake in shares of PulteGroup by 8.6% in the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock worth $4,246,000 after purchasing an additional 3,266 shares during the last quarter. Signal Advisors Wealth LLC increased its holdings in PulteGroup by 5.5% in the first quarter. Signal Advisors Wealth LLC now owns 3,126 shares of the construction company's stock valued at $321,000 after purchasing an additional 162 shares during the period. Vest Financial LLC raised its position in PulteGroup by 1,311.3% during the 1st quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock worth $32,148,000 after purchasing an additional 290,564 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in PulteGroup by 108.8% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 927 shares of the construction company's stock worth $95,000 after buying an additional 483 shares during the period. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 6.42, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a fifty day simple moving average of $103.40 and a 200 day simple moving average of $117.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Tuesday, March 18th. PulteGroup's dividend payout ratio is presently 5.98%.

PulteGroup announced that its board has approved a stock repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is 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.