PulteGroup (NYSE:PHM) Shares Gap Up to $106.15

PulteGroup, Inc. (NYSE:PHM - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $106.15, but opened at $109.50. PulteGroup shares last traded at $108.06, with a volume of 107,398 shares traded.

Analyst Ratings Changes

PHM has been the subject of a number of research analyst reports. Wedbush restated a "neutral" rating and issued a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the stock a "neutral" rating in a research note on Thursday, January 11th. UBS Group lowered shares of PulteGroup from a "buy" rating to a "neutral" rating and boosted their target price for the company from $93.00 to $120.00 in a research note on Thursday, January 4th. Raymond James boosted their target price on shares of PulteGroup from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. Finally, Citigroup boosted their target price on shares of PulteGroup from $116.00 to $127.00 and gave the company a "neutral" rating in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $106.47.

PulteGroup Stock Down 0.2 %

The firm's 50-day moving average price is $110.44 and its 200 day moving average price is $97.82. The firm has a market cap of $22.36 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The company's quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.63 earnings per share. As a group, research analysts expect that PulteGroup, Inc. will post 11.79 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, March 14th. PulteGroup's payout ratio is currently 6.81%.

PulteGroup announced that its board has authorized a stock repurchase program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, VP Brien P. O'meara sold 2,000 shares of the company's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares of the company's stock, valued at $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.83% of the company's stock.

Institutional Investors Weigh In On PulteGroup

Several institutional investors have recently bought and sold shares of PHM. Rakuten Securities Inc. acquired a new stake in PulteGroup in the 4th quarter valued at about $37,000. Coppell Advisory Solutions LLC acquired a new stake in PulteGroup in the 2nd quarter valued at about $29,000. Lindbrook Capital LLC lifted its holdings in PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company's stock valued at $39,000 after acquiring an additional 292 shares during the last quarter. Security National Bank acquired a new stake in PulteGroup in the 4th quarter valued at about $40,000. Finally, ORG Partners LLC lifted its holdings in PulteGroup by 3,463.6% in the 4th quarter. ORG Partners LLC now owns 392 shares of the construction company's stock valued at $40,000 after acquiring an additional 381 shares during the last quarter. Institutional investors and hedge funds 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.