PulteGroup, Inc. (NYSE:PHM) Short Interest Down 18.4% in October

PulteGroup, Inc. (NYSE:PHM) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,250,000 shares, a drop of 18.4% from the October 15th total of 6,430,000 shares. Based on an average trading volume of 1,800,000 shares, the short-interest ratio is presently 2.9 days. Currently, 2.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PHM shares. Evercore ISI reduced their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Bank of America increased their target price on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Barclays lifted their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Trading Down 0.4 %

Shares of PHM traded down $0.55 during mid-day trading on Friday, reaching $128.89. 1,509,994 shares of the company’s stock traded hands, compared to its average volume of 1,839,799. PulteGroup has a 12 month low of $86.59 and a 12 month high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $26.43 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.52 and a beta of 1.63. The stock’s 50-day moving average is $137.29 and its two-hundred day moving average is $125.27.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.90 EPS. Research analysts forecast that PulteGroup will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a $0.22 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Tuesday, December 17th. PulteGroup’s payout ratio is presently 5.90%.

Insider Activity at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 44.29 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PHM. Brophy Wealth Management LLC purchased a new stake in PulteGroup during the third quarter worth $446,000. Continuum Advisory LLC increased its position in PulteGroup by 51.4% during the 3rd quarter. Continuum Advisory LLC now owns 480 shares of the construction company’s stock valued at $69,000 after buying an additional 163 shares in the last quarter. Groupama Asset Managment acquired a new stake in PulteGroup in the third quarter worth about $707,000. Nomura Asset Management Co. Ltd. boosted its stake in PulteGroup by 3.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 95,070 shares of the construction company’s stock worth $13,645,000 after purchasing an additional 2,942 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in PulteGroup by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 53,949 shares of the construction company’s stock valued at $7,743,000 after purchasing an additional 1,928 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

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.