PulteGroup (NYSE:PHM – Get Rating) had its target price hoisted by Citigroup to $51.00 in a report released on Wednesday, Stock Target Advisor reports. The firm currently has an outperform rating on the construction company’s stock.
A number of other research analysts have also recently commented on PHM. JPMorgan Chase & Co. decreased their price target on PulteGroup from $51.00 to $49.50 and set an overweight rating on the stock in a research note on Tuesday, July 12th. Wedbush reduced their price objective on PulteGroup from $68.00 to $57.00 in a research note on Monday, May 2nd. Wells Fargo & Company reduced their price objective on PulteGroup from $46.00 to $41.00 and set an equal weight rating on the stock in a research note on Friday, June 17th. Credit Suisse Group initiated coverage on PulteGroup in a research note on Tuesday, April 5th. They issued an outperform rating and a $52.00 price objective on the stock. Finally, Royal Bank of Canada cut PulteGroup from an outperform rating to a sector perform rating and reduced their price objective for the company from $56.00 to $41.00 in a research note on Wednesday, June 22nd. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $51.21.
PulteGroup Stock Up 2.0 %
NYSE:PHM opened at $43.66 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $42.51 and its two-hundred day moving average is $45.30. PulteGroup has a 52 week low of $35.03 and a 52 week high of $58.09. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 5.35, a price-to-earnings-growth ratio of 0.69 and a beta of 1.33.
PulteGroup (NYSE:PHM – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The construction company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.14. PulteGroup had a return on equity of 27.91% and a net margin of 14.58%. The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. The firm’s revenue was up 16.9% compared to the same quarter last year. Research analysts anticipate that PulteGroup will post 10.69 EPS for the current year.
PulteGroup Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Friday, June 10th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.37%. The ex-dividend date was Thursday, June 9th. PulteGroup’s dividend payout ratio (DPR) is presently 7.35%.
Hedge Funds Weigh In On PulteGroup
Several large investors have recently bought and sold shares of PHM. Cambridge Investment Research Advisors Inc. grew its holdings in shares of PulteGroup by 5.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 106,599 shares of the construction company’s stock worth $6,093,000 after purchasing an additional 5,090 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of PulteGroup by 88.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,177,148 shares of the construction company’s stock worth $67,285,000 after purchasing an additional 553,252 shares during the last quarter. Bivin & Associates Inc. purchased a new position in shares of PulteGroup during the fourth quarter worth about $99,000. Xponance Inc. grew its holdings in shares of PulteGroup by 4.9% during the fourth quarter. Xponance Inc. now owns 58,548 shares of the construction company’s stock worth $3,347,000 after purchasing an additional 2,727 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of PulteGroup by 10.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 4,369 shares of the construction company’s stock worth $183,000 after purchasing an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.
About PulteGroup
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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, American West, and John Wieland Homes and Neighborhoods brand names.
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