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

by · The Cerbat Gem

PulteGroup, Inc. (NYSE:PHM – Get Free Report) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 7,747,067 shares, an increase of 24.4% from the November 30th total of 6,225,580 shares. Approximately 4.0% of the shares of the stock are sold short. Based on an average trading volume of 1,497,827 shares, the short-interest ratio is presently 5.2 days. Based on an average trading volume of 1,497,827 shares, the short-interest ratio is presently 5.2 days. Approximately 4.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays set a $115.00 target price on shares of PulteGroup in a report on Monday, December 8th. BTIG Research initiated coverage on shares of PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating on the stock. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a research report on Tuesday, October 21st. Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Evercore ISI reduced their price target on PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $137.25.

Read Our Latest Stock Report on PHM

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WPG Advisers LLC acquired a new stake in shares of PulteGroup in the first quarter worth $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in PulteGroup in the second quarter valued at about $32,000. Rexford Capital Inc. purchased a new position in PulteGroup in the second quarter valued at about $35,000. Private Wealth Management Group LLC lifted its stake in shares of PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Hager Investment Management Services LLC grew its stake in shares of PulteGroup by 33.3% during 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 in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.4%

Shares of NYSE PHM traded down $0.52 during trading on Wednesday, hitting $117.61. 207,035 shares of the company traded hands, compared to its average volume of 2,113,261. The firm has a market capitalization of $22.92 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.95 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $121.44 and a 200-day moving average price of $121.83. PulteGroup has a 1 year low of $88.07 and a 1 year high of $142.11.

PulteGroup (NYSE:PHM – Get Free Report) last issued its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.35 earnings per share. On average, equities analysts predict that PulteGroup will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 16th. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio (DPR) is presently 8.01%.

About PulteGroup

(Get Free Report)

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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