PulteGroup (NYSE:PHM) Reaches New 12-Month Low – Here’s What Happened

PulteGroup, Inc. (NYSE:PHM) shares reached a new 52-week low during trading on Wednesday. The company traded as low as $107.32 and last traded at $107.6140, with a volume of 407,054 shares changing hands. The stock had previously closed at $111.58.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PHM shares. Melius Research began coverage on PulteGroup in a research report on Tuesday, October 6th. They issued a “hold” rating and a $132.00 price objective for the company. Barclays decreased their price target on PulteGroup from $124.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Wolfe Research set a $129.00 price target on PulteGroup and gave the stock an “outperform” rating in a report on Monday, August 24th. Citigroup reiterated a “market outperform” rating on shares of PulteGroup in a report on Thursday, October 8th. Finally, Benchmark raised PulteGroup to a “strong-buy” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $138.94.

PulteGroup Trading Down 3.0%

The company has a market cap of $20.29 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $122.48 and a 200-day simple moving average of $122.87.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the business earned $3.03 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, analysts predict that PulteGroup, Inc. will post 10.08 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. PulteGroup’s dividend payout ratio (DPR) is presently 10.62%.

Hedge Funds Weigh In On PulteGroup

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC lifted its stake in PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. NFSG Corp purchased a new position in shares of PulteGroup during the first quarter worth approximately $29,000. HHM Wealth Advisors LLC grew its position in shares of PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after acquiring an additional 168 shares during the last quarter. Mcdonald Partners LLC acquired a new stake in PulteGroup during the 2nd quarter worth $43,000. Finally, Evelyn Partners Investment Management Services Ltd purchased a new position in PulteGroup during the 1st quarter worth $37,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

About PulteGroup

PulteGroup, Inc is a homebuilding company headquartered in Atlanta, Georgia. Founded in 1950 by William J. Pulte, the company develops, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers.

The company operates through several well-known brands, including Pulte Homes, Centex, Del Webb and DiVosta. Its offerings include single-family homes and related residential developments, with designs and communities tailored to different lifestyles, price points and stages of homeownership.

PulteGroup serves homebuyers across numerous markets in the United States.