Investors Sell Shares of PulteGroup Inc. (PHM) on Strength (PHM)
Investors sold shares of PulteGroup Inc. (NYSE:PHM) on strength during trading on Thursday. $34.39 million flowed into the stock on the tick-up and $48.25 million flowed out of the stock on the tick-down, for a money net flow of $13.86 million out of the stock. Of all companies tracked, PulteGroup had the 0th highest net out-flow for the day. PulteGroup traded up $1.09 for the day and closed at $21.51
PHM has been the topic of a number of recent research reports. Raymond James Financial Inc. lowered shares of PulteGroup from an “outperform” rating to a “market perform” rating and set a $19.00 price target on the stock. in a research report on Monday, April 25th. Royal Bank Of Canada boosted their price target on shares of PulteGroup from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank AG restated a “hold” rating on shares of PulteGroup in a research report on Wednesday, June 8th. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Finally, FBR & Co boosted their price target on shares of PulteGroup from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$18.73.
The firm has a market cap of $7.56 billion and a PE ratio of 14.95. The firm has a 50 day moving average of $19.56 and a 200 day moving average of $18.10.
PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.66 billion. PulteGroup’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. On average, analysts predict that PulteGroup Inc. will post $1.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Thursday, June 9th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, June 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.65%.
In related news, Director Bryce Blair bought 5,479 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were acquired at an average cost of C$18.18 per share, with a total value of C$99,608.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James R. Ellinghausen sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of C$20.25, for a total transaction of C$2,025,000.00. Following the completion of the sale, the vice president now directly owns 532,931 shares in the company, valued at C$10,791,852.75. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in PulteGroup by 9.9% in the fourth quarter. ProShare Advisors LLC now owns 56,787 shares of the company’s stock valued at $1,012,000 after buying an additional 5,092 shares in the last quarter. Marshall Wace LLP acquired a new position in PulteGroup during the fourth quarter valued at approximately $1,360,000. Norinchukin Bank The raised its position in PulteGroup by 374.2% in the fourth quarter. Norinchukin Bank The now owns 87,090 shares of the company’s stock valued at $1,552,000 after buying an additional 68,723 shares during the last quarter. Gulf International Bank UK Ltd raised its position in PulteGroup by 1.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 97,105 shares of the company’s stock valued at $1,730,000 after buying an additional 1,000 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in PulteGroup by 14.5% in the fourth quarter. Advisors Asset Management Inc. now owns 100,078 shares of the company’s stock valued at $1,783,000 after buying an additional 12,636 shares during the last quarter.
PulteGroup, Inc (PulteGroup) is a homebuilder operating in the United States. The Company’s subsidiaries engage in the homebuilding business. The Company also offers mortgage banking operations through Pulte Mortgage LLC (Pulte Mortgage) and title operations. It offers a variety of home designs, including single-family detached, townhouses, condominiums and duplexes.
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