PulteGroup, Inc. (NYSE:PHM) Receives $136.92 Consensus Target Price from Brokerages

Shares of PulteGroup, Inc. (NYSE:PHM) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $133.6667.

Several research firms have recently weighed in on PHM. Oppenheimer boosted their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. UBS Group upped their target price on shares of PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Citigroup upped their target price on shares of PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st.

PulteGroup Stock Up 0.6%

PHM opened at $120.95 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $130.51 and a 200-day moving average price of $114.23. PulteGroup has a twelve month low of $88.07 and a twelve month high of $142.11. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.35 and a beta of 1.29.

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

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s dividend payout ratio is currently 6.58%.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. GAMMA Investing LLC boosted its position in shares of PulteGroup by 38.9% in the first quarter. GAMMA Investing LLC now owns 3,043 shares of the construction company’s stock worth $313,000 after purchasing an additional 853 shares during the period. State of Alaska Department of Revenue boosted its position in shares of PulteGroup by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 23,726 shares of the construction company’s stock worth $2,439,000 after purchasing an additional 345 shares during the period. Edmp Inc. bought a new position in shares of PulteGroup in the first quarter worth approximately $215,000. Golden State Equity Partners boosted its position in shares of PulteGroup by 15.7% in the first quarter. Golden State Equity Partners now owns 2,617 shares of the construction company’s stock worth $269,000 after purchasing an additional 356 shares during the period. Finally, Spire Wealth Management boosted its position in shares of PulteGroup by 80.9% in the first quarter. Spire Wealth Management now owns 2,956 shares of the construction company’s stock worth $304,000 after purchasing an additional 1,322 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

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.