PulteGroup (NYSE:PHM) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of PulteGroup (NYSE:PHM) from a hold (c+) rating to a buy (b-) rating in a report issued on Saturday morning,Weiss Ratings reports.

Other analysts also recently issued research reports about the stock. Bank of America lowered their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 10th. JPMorgan Chase & Co. lifted their target price on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. UBS Group upped their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Seaport Res Ptn upgraded PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Stock Down 0.2%

PHM stock opened at $120.25 on Friday. The firm has a market capitalization of $23.44 billion, a PE ratio of 9.26, a P/E/G ratio of 0.96 and a beta of 1.29. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup has a twelve month low of $88.07 and a twelve month high of $142.11. The stock’s 50 day moving average is $130.19 and its 200-day moving average is $114.87.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the company posted $3.35 earnings per share. PulteGroup’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts expect that PulteGroup will post 12.32 EPS for the current fiscal 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 paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s dividend payout ratio is currently 6.77%.

Institutional Trading of PulteGroup

A number of large investors have recently modified their holdings of the business. WPG Advisers LLC bought a new position in shares of PulteGroup in the first quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in PulteGroup in the 2nd quarter worth approximately $32,000. Rexford Capital Inc. bought a new position in shares of PulteGroup in the 2nd quarter worth $35,000. Private Wealth Management Group LLC increased its holdings in shares of PulteGroup by 281.7% in the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Finally, Hager Investment Management Services LLC raised its position in shares of PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after buying an additional 105 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.