PulteGroup, Inc. (NYSE:PHM) Sees Significant Growth in Short Interest

PulteGroup, Inc. (NYSE:PHM) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 5,590,000 shares, a growth of 15.3% from the January 15th total of 4,850,000 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,030,000 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

PHM has been the subject of several research reports. Oppenheimer dropped their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Bank of America cut their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Wells Fargo & Company reduced their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Activity

In related news, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 in the last quarter. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of PulteGroup

Several hedge funds have recently modified their holdings of the stock. Baird Financial Group Inc. grew its stake in PulteGroup by 0.9% during the 4th quarter. Baird Financial Group Inc. now owns 31,170 shares of the construction company’s stock worth $3,394,000 after purchasing an additional 293 shares in the last quarter. Bayview Asset Management LLC boosted its stake in shares of PulteGroup by 103.3% in the 4th quarter. Bayview Asset Management LLC now owns 11,688 shares of the construction company’s stock valued at $1,273,000 after buying an additional 5,938 shares during the period. BNP Paribas grew its position in shares of PulteGroup by 5.5% during the fourth quarter. BNP Paribas now owns 10,457 shares of the construction company’s stock worth $1,137,000 after buying an additional 543 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in shares of PulteGroup by 12.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 124,780 shares of the construction company’s stock worth $13,590,000 after buying an additional 13,739 shares during the period. Finally, Wahed Invest LLC lifted its stake in PulteGroup by 3.3% in the fourth quarter. Wahed Invest LLC now owns 5,174 shares of the construction company’s stock worth $563,000 after acquiring an additional 164 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Price Performance

PHM stock opened at $107.45 on Monday. The business’s fifty day moving average price is $112.63 and its 200 day moving average price is $126.12. PulteGroup has a 12-month low of $100.24 and a 12-month high of $149.47. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $22.04 billion, a PE ratio of 7.30, a P/E/G ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, sell-side analysts anticipate that PulteGroup will post 12.43 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.82%. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup announced that its board has authorized a share repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.