PulteGroup, Inc. (NYSE:PHM) Receives Consensus Rating of “Moderate Buy” from Brokerages

PulteGroup, Inc. (NYSE:PHM) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $106.47.

Several research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Wedbush reaffirmed a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. Raymond James boosted their target price on shares of PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Citigroup raised their price target on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Royal Bank of Canada upped their price objective on shares of PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st.

PulteGroup Stock Performance

PHM stock opened at $105.96 on Friday. The stock has a market cap of $22.36 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.52 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day simple moving average of $110.44 and a 200 day simple moving average of $97.82. PulteGroup has a 52 week low of $61.74 and a 52 week high of $121.07.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period in the previous year, the company posted $3.63 EPS. PulteGroup’s revenue was down 15.5% on a year-over-year basis. Research analysts anticipate that PulteGroup will post 11.79 earnings per share for the current fiscal year.

PulteGroup announced that its board has approved a stock buyback plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.76%. PulteGroup’s dividend payout ratio (DPR) is 6.81%.

Insider Activity

In related news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PulteGroup

A number of hedge funds and other institutional investors have recently bought and sold shares of PHM. Nordea Investment Management AB boosted its stake in shares of PulteGroup by 4.0% during the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after purchasing an additional 28,833 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in PulteGroup by 24.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock worth $1,951,000 after acquiring an additional 5,257 shares during the last quarter. American Century Companies Inc. raised its stake in shares of PulteGroup by 65.0% during the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock valued at $16,660,000 after acquiring an additional 88,638 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of PulteGroup during the fourth quarter worth $6,111,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of PulteGroup in the fourth quarter worth $2,815,000. Institutional investors own 89.90% of the company’s stock.

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.