PulteGroup (NYSE:PHM) Shares Gap Down to $125.64

PulteGroup, Inc. (NYSE:PHM) gapped down before the market opened on Tuesday . The stock had previously closed at $125.64, but opened at $120.71. PulteGroup shares last traded at $122.33, with a volume of 770,591 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PHM. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their price target on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Citigroup dropped their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Finally, Barclays raised their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.93.

PulteGroup Stock Performance

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $113.97 and a two-hundred day simple moving average of $111.22. The stock has a market capitalization of $25.78 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.54 and a beta of 1.61.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a return on equity of 26.19% and a net margin of 16.75%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $3.00 earnings per share. On average, equities analysts forecast that PulteGroup, Inc. will post 12.63 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were paid a $0.20 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a yield of 0.65%. PulteGroup’s dividend payout ratio is 6.41%.

Institutional Trading of PulteGroup

Several hedge funds have recently added to or reduced their stakes in the company. Lebenthal Global Advisors LLC lifted its holdings in PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after purchasing an additional 87 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in PulteGroup by 2.9% during the 4th quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock worth $371,000 after purchasing an additional 100 shares during the last quarter. Tocqueville Asset Management L.P. lifted its holdings in PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock worth $614,000 after purchasing an additional 101 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in PulteGroup by 4.9% during the 1st quarter. Global Retirement Partners LLC now owns 2,226 shares of the construction company’s stock worth $269,000 after purchasing an additional 103 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in PulteGroup by 2.4% during the 1st quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock worth $575,000 after purchasing an additional 112 shares during the last quarter. 89.90% of the stock is 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.