PulteGroup (NYSE:PHM) Stock Price Down 5.4% - Should You Sell?

Key Points

• PulteGroup's stock price fell by 5.4% to approximately $120.78, with trading volume down 36% from its average.
• Analysts have set new price targets for PulteGroup, ranging from $143.00 to $154.00, with an overall average target price of $136.46 and a rating trend indicating a Moderate Buy.
• The company recently announced a quarterly dividend of $0.22 per share, with a dividend yield of 0.7% and a payout ratio of 6.58%.

PulteGroup, Inc. (NYSE:PHM - Get Free Report) was down 5.4% during trading on Thursday . The company traded as low as $120.65 and last traded at $120.78. Approximately 1,364,507 shares changed hands during trading, a decline of 36% from the average daily volume of 2,140,104 shares. The stock had previously closed at $127.66.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PHM. UBS Group raised their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Citigroup raised their price target on shares of PulteGroup from $132.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 1st. Evercore ISI set a $154.00 price target on shares of PulteGroup and gave the stock an "in-line" rating in a research report on Tuesday. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Finally, Wells Fargo & Company lifted their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $136.46.

PulteGroup Trading Down 5.0%

The business has a 50 day moving average of $130.46 and a 200-day moving average of $112.83. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $23.93 billion, a P/E ratio of 9.06, a PEG ratio of 0.38 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $3.83 EPS. Analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup's dividend payout ratio is presently 6.58%.

Institutional Trading of PulteGroup

Hedge funds and other institutional investors have recently made changes to their positions in the company. WPG Advisers LLC bought a new stake in PulteGroup in the first quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC bought a new stake in PulteGroup in the second quarter valued at approximately $32,000. Rexford Capital Inc. bought a new stake in PulteGroup in the second quarter valued at approximately $35,000. Hager Investment Management Services LLC boosted its holdings in PulteGroup by 33.3% in the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company's stock valued at $44,000 after acquiring an additional 105 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in PulteGroup by 170.4% in the third quarter. AdvisorNet Financial Inc now owns 503 shares of the construction company's stock valued at $67,000 after acquiring an additional 317 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

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.

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