PulteGroup (NYSE:PHM) was the recipient of a significant drop in short interest during the month of March. As of March 29th, there was short interest totalling 18,091,194 shares, a drop of 19.3% from the March 15th total of 22,422,817 shares. Based on an average trading volume of 4,105,545 shares, the short-interest ratio is currently 4.4 days. Approximately 6.9% of the company’s shares are sold short.
Shares of NYSE PHM opened at $29.87 on Wednesday. PulteGroup has a twelve month low of $21.41 and a twelve month high of $35.21. The firm has a market cap of $8,390.56, a P/E ratio of 13.64, a PEG ratio of 0.46 and a beta of 1.04.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. PulteGroup’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. analysts expect that PulteGroup will post 3.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Thursday, March 15th. PulteGroup’s payout ratio is 16.44%.
PulteGroup announced that its board has approved a share repurchase program on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
In other news, Director Patrick J. Oleary sold 8,677 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $30.03, for a total transaction of $260,570.31. Following the completion of the transaction, the director now owns 90,687 shares of the company’s stock, valued at $2,723,330.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of PHM. Focused Wealth Management Inc acquired a new stake in PulteGroup in the fourth quarter worth $113,000. SeaCrest Wealth Management LLC acquired a new stake in PulteGroup in the fourth quarter worth $119,000. National Pension Service acquired a new stake in PulteGroup in the fourth quarter worth $138,000. Raymond James Trust N.A. acquired a new stake in PulteGroup in the fourth quarter worth $200,000. Finally, First Republic Investment Management Inc. acquired a new stake in PulteGroup in the fourth quarter worth $205,000. Institutional investors and hedge funds own 85.17% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Barclays dropped their price target on shares of PulteGroup from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, March 26th. Royal Bank of Canada reaffirmed a “buy” rating and set a $35.00 price target on shares of PulteGroup in a research note on Monday, March 26th. Mizuho reaffirmed a “buy” rating and set a $36.00 price target on shares of PulteGroup in a research note on Thursday, March 15th. Zacks Investment Research downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, B. Riley reaffirmed a “hold” rating and set a $36.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $34.15.
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PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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