PulteGroup (NYSE:PHM) Shares Gap Down – Here’s What Happened

PulteGroup, Inc. (NYSE:PHM) shares gapped down prior to trading on Thursday . The stock had previously closed at $111.29, but opened at $107.90. PulteGroup shares last traded at $110.10, with a volume of 523,910 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays reiterated an “equal weight” rating and issued a $140.00 price objective (down previously from $150.00) on shares of PulteGroup in a research note on Wednesday, December 11th. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. BTIG Research upped their price target on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI decreased their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.71.

PulteGroup Stock Up 1.5 %

The firm has a fifty day simple moving average of $130.41 and a 200 day simple moving average of $127.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $22.67 billion, a PE ratio of 8.15, a PEG ratio of 0.48 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the business earned $2.90 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.80%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is currently 6.49%.

Institutional Trading of PulteGroup

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. Franklin Resources Inc. raised its stake in PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after buying an additional 585,735 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of PulteGroup in the 3rd quarter worth approximately $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PulteGroup by 357.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after acquiring an additional 407,764 shares during the last quarter. Finally, KBC Group NV raised its position in shares of PulteGroup by 1,020.0% during the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after acquiring an additional 397,003 shares in 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.