Brokerages Set PulteGroup, Inc. (NYSE:PHM) Target Price at $134.69

PulteGroup, Inc. (NYSE:PHM) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $134.69.

A number of equities research analysts have commented on PHM shares. Wells Fargo & Company reduced their target price on PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group reduced their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada decreased their price objective on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Evercore ISI upped their price target on PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 23rd.

Insider Activity at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by insiders.

Institutional Trading of PulteGroup

Hedge funds have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. lifted its holdings in shares of PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock worth $68,000 after acquiring an additional 89 shares during the period. Premier Path Wealth Partners LLC increased its position in PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after purchasing an additional 95 shares during the last quarter. Meridian Wealth Management LLC raised its stake in PulteGroup by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock worth $1,440,000 after purchasing an additional 95 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock valued at $479,000 after purchasing an additional 103 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after buying an additional 105 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.8 %

Shares of PulteGroup stock opened at $101.81 on Tuesday. The firm has a market cap of $20.41 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. PulteGroup has a 52-week low of $88.07 and a 52-week high of $149.47. The company’s 50-day simple moving average is $101.24 and its 200-day simple moving average is $113.94. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.10. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same quarter in the previous year, the firm posted $3.10 EPS. As a group, equities research analysts anticipate that PulteGroup will post 12.32 earnings per share for the current year.

PulteGroup announced that its board has approved a share repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.86%. PulteGroup’s payout ratio is currently 6.21%.

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.