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Five Buys Near 52-Week Highs

PHM Chart PHM data by YCharts

PulteGroup, Inc. (PHM - Get Report)

Background: PulteGroup, through its subsidiaries, engages in homebuilding and financial services businesses primarily in the U.S. The company's homebuilding business includes the acquisition and development of land primarily for residential purposes within the U.S.; and the construction of housing on such lands. PulteGroup trades an average of 8 million shares per day with a market cap of $7.5 billion.

52-Week High: $19.47

Beta: 2.09

Price to Book: 3.51

Last year was a great year, relatively speaking, to be a home builder investor. Shares in PulteGroup are no exception and the price more than doubled from this time in 2012.

PulteGroup has quite a bit of short interest, especially for a company tearing it up. The current proportion sold short based on the float is 7.3%, and I find this much interest by short sellers worth looking at in more depth.

It appears the daily chart wants to continue higher, but the weekly chart is at odds and suggests a price dip may be the ideal time to enter. Look for a price near support around $17.50 as a good place to enter. Otherwise, buying at this level is closer to chasing a high-flying stock than I care to get. That said, PulteGroup's recovery demonstrates what can happen when the Fed decides to prop up an industry. Earnings are growing and at the current rate of growth a reinstatement of the dividend may not be far off.

PulteGroup suspended its dividend in 2008, but earnings in 2013 are expected to increase 70% over 2012 levels. This is what makes PulteGroup a buy, but be sure to let it give you a dip in price first. PHM Revenue Per Share TTM Chart PHM Revenue Per Share TTM data by YCharts
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