PulteGroup (NYSE:PHM) Sets New 12-Month Low - Here's What Happened

PulteGroup, Inc. (NYSE:PHM - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $99.58 and last traded at $101.46, with a volume of 113652 shares changing hands. The stock had previously closed at $101.74.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PHM. Wedbush reaffirmed an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. UBS Group boosted their price target on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, December 13th. Wells Fargo & Company lowered their price target on PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, StockNews.com downgraded shares of PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Seven 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 stock presently has an average rating of "Moderate Buy" and an average target price of $140.86.

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PulteGroup Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock's fifty day moving average is $106.41 and its 200-day moving average is $120.48. The stock has a market capitalization of $20.46 billion, a PE ratio of 6.87, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share 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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its board has approved 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 repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now directly 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 document filed with the SEC, which is available at this hyperlink. Also, VP Brien P. O'meara sold 3,500 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares in the company, 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. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last 90 days. Corporate insiders own 0.76% of the company's stock.

Hedge Funds Weigh In On PulteGroup

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in PulteGroup by 559.7% in the first quarter. Versant Capital Management Inc now owns 4,235 shares of the construction company's stock valued at $435,000 after purchasing an additional 3,593 shares during the period. First Hawaiian Bank raised its position in shares of PulteGroup by 37.2% in the 1st quarter. First Hawaiian Bank now owns 3,362 shares of the construction company's stock valued at $346,000 after purchasing an additional 912 shares in the last quarter. 111 Capital purchased a new position in shares of PulteGroup during the 4th quarter valued at approximately $240,000. NorthCrest Asset Manangement LLC grew its position in shares of PulteGroup by 1.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 125,174 shares of the construction company's stock worth $13,631,000 after buying an additional 1,579 shares in the last quarter. Finally, Siemens Fonds Invest GmbH raised its holdings in PulteGroup by 99.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,591 shares of the construction company's stock valued at $500,000 after acquiring an additional 2,289 shares in the last quarter. 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.