PulteGroup (NYSE:PHM) Shares Gap Down to $106.23

PulteGroup, Inc. (NYSE:PHM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $106.23, but opened at $103.07. PulteGroup shares last traded at $104.32, with a volume of 272,948 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PHM. Citigroup raised their price objective on PulteGroup from $127.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Oppenheimer raised their price objective on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Barclays raised their target price on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Raymond James reiterated an “outperform” rating and set a $135.00 target price (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Finally, Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.07.

PulteGroup Stock Down 2.3 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a fifty day simple moving average of $114.11 and a 200-day simple moving average of $109.78. The company has a market capitalization of $21.84 billion, a PE ratio of 8.32, a P/E/G ratio of 0.49 and a beta of 1.61.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.59 billion. Equities research analysts anticipate that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.77%. PulteGroup’s payout ratio is 6.41%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in PulteGroup during the 1st quarter valued at approximately $26,000. Benjamin Edwards Inc. acquired a new position in PulteGroup during the 1st quarter valued at approximately $26,000. LRI Investments LLC acquired a new position in PulteGroup during the 1st quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new position in PulteGroup during the 4th quarter valued at approximately $37,000. Finally, Lindbrook Capital LLC boosted its position in PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after purchasing an additional 292 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

About PulteGroup

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.