PulteGroup (NYSE:PHM) Reaches New 12-Month High – Time to Buy?

Shares of PulteGroup, Inc. (NYSE:PHM) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $144.50 and last traded at $141.55, with a volume of 1848098 shares trading hands. The stock had previously closed at $142.56.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PHM shares. Wall Street Zen raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $144.00 price target on shares of PulteGroup in a research report on Tuesday, January 13th. JPMorgan Chase & Co. dropped their target price on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Oppenheimer reiterated an “outperform” rating and issued a $149.00 price target (up previously from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Finally, Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.15.

PulteGroup Stock Performance

The stock has a 50-day moving average of $127.09 and a 200 day moving average of $126.69. The firm has a market capitalization of $27.22 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup’s payout ratio is presently 9.35%.

Insider Transactions at PulteGroup

In other news, insider Ryan Marshall sold 111,250 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the completion of the transaction, the insider owned 659,392 shares of the company’s stock, valued at approximately $88,266,213.12. The trade was a 14.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.79, for a total value of $2,078,809.11. Following the sale, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. The trade was a 26.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 144,779 shares of company stock worth $19,432,616 in the last ninety days. 0.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PulteGroup

Hedge funds have recently added to or reduced their stakes in the business. Rachor Investment Advisory Services LLC bought a new position in shares of PulteGroup during the fourth quarter valued at about $31,000. Private Wealth Management Group LLC lifted its stake in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. DV Equities LLC bought a new position in shares of PulteGroup in the fourth quarter worth $32,000. Lloyd Advisory Services LLC. bought a new stake in shares of PulteGroup during the fourth quarter valued at about $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in PulteGroup during the 2nd quarter worth approximately $32,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.