Traders Sell Shares of PulteGroup, Inc. (PHM) on Strength Following Insider Selling
Traders sold shares of PulteGroup, Inc. (NYSE:PHM) on strength during trading hours on Monday after an insider sold shares in the company. $7.82 million flowed into the stock on the tick-up and $29.55 million flowed out of the stock on the tick-down, for a money net flow of $21.73 million out of the stock. Of all companies tracked, PulteGroup had the 21st highest net out-flow for the day. PulteGroup traded up $0.02 for the day and closed at $23.74Specifically, insider James R. Ellinghausen sold 47,744 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $21.00, for a total transaction of $1,002,624.00. Following the transaction, the insider now owns 435,187 shares in the company, valued at approximately $9,138,927. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Dugas, Jr. sold 341,222 shares of the company’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $20.78, for a total transaction of $7,090,593.16. Following the transaction, the director now owns 1,216,348 shares in the company, valued at approximately $25,275,711.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 493,790 shares of company stock valued at $10,357,053. 1.83% of the stock is currently owned by company insiders.
PHM has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, January 30th. Bank of America Corp upgraded shares of PulteGroup from an “underperform” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, January 27th. BTIG Research initiated coverage on shares of PulteGroup in a research note on Tuesday, February 7th. They set a “neutral” rating on the stock. FBR & Co upgraded shares of PulteGroup from a “market perform” rating to an “outperform” rating and upped their price target for the company from $23.00 to $26.00 in a research note on Tuesday, February 14th. Finally, Royal Bank of Canada upped their price target on shares of PulteGroup from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. PulteGroup presently has an average rating of “Hold” and an average target price of $22.90.
The stock has a 50 day moving average price of $22.09 and a 200 day moving average price of $20.01. The stock has a market cap of $7.55 billion, a PE ratio of 13.58 and a beta of 1.24.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, January 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. PulteGroup had a net margin of 7.86% and a return on equity of 12.29%. The company earned $2.40 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. On average, analysts anticipate that PulteGroup, Inc. will post $2.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Friday, March 10th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.52%. PulteGroup’s dividend payout ratio is currently 20.22%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kentucky Retirement Systems purchased a new position in shares of PulteGroup during the second quarter worth about $522,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of PulteGroup during the second quarter worth about $248,000. BNP Paribas Arbitrage SA increased its position in shares of PulteGroup by 119.0% in the third quarter. BNP Paribas Arbitrage SA now owns 105,145 shares of the company’s stock worth $2,107,000 after buying an additional 57,136 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of PulteGroup during the third quarter worth about $300,000. Finally, Advisory Services Network LLC increased its position in shares of PulteGroup by 5.4% in the third quarter. Advisory Services Network LLC now owns 9,811 shares of the company’s stock worth $197,000 after buying an additional 501 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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