PulteGroup, Inc. (NYSE:PHM) Short Interest Up 24.4% in December

PulteGroup, Inc. (NYSE:PHM) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 7,747,067 shares, a growth of 24.4% from the November 30th total of 6,225,580 shares. Approximately 4.0% of the company’s stock are short sold. Based on an average daily volume of 1,497,827 shares, the days-to-cover ratio is currently 5.2 days. Based on an average daily volume of 1,497,827 shares, the days-to-cover ratio is currently 5.2 days. Approximately 4.0% of the company’s stock are short sold.

PulteGroup Stock Down 0.7%

NYSE:PHM opened at $117.29 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup has a twelve month low of $88.07 and a twelve month high of $142.11. The company has a market cap of $22.86 billion, a PE ratio of 9.03, a P/E/G ratio of 0.94 and a beta of 1.33. The company’s 50 day moving average is $121.31 and its two-hundred day moving average is $121.77.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.86 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.35 earnings per share. Analysts anticipate that PulteGroup will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

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

Analyst Upgrades and Downgrades

PHM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on PulteGroup from $136.00 to $149.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Weiss Ratings cut shares of PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. BTIG Research initiated coverage on shares of PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating for the company. Bank of America decreased their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 10th. Finally, Citigroup lifted their price target on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $137.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PHM. Franklin Resources Inc. boosted its position in PulteGroup by 5.0% in the third quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock valued at $1,704,513,000 after buying an additional 609,640 shares during the last quarter. Norges Bank acquired a new stake in PulteGroup during the 2nd quarter valued at approximately $404,339,000. First Trust Advisors LP boosted its holdings in shares of PulteGroup by 13.3% in the 3rd quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock valued at $478,828,000 after acquiring an additional 424,011 shares during the last quarter. Invesco Ltd. increased its stake in shares of PulteGroup by 0.9% in the second quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock worth $277,811,000 after acquiring an additional 23,051 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of PulteGroup during the third quarter worth $315,883,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

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.