PulteGroup, Inc. (NYSE:PHM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PulteGroup, Inc. (NYSE:PHM) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $137.25.

A number of research firms have recently commented on PHM. Wells Fargo & Company upped their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. BTIG Research assumed coverage on PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating for the company. Citigroup lifted their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c+)” rating on shares of PulteGroup in a research note on Monday, December 1st. Finally, Evercore ISI reduced their target price on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 22nd.

Institutional Investors Weigh In On PulteGroup

Institutional investors have recently bought and sold shares of the business. Evergreen Capital Management LLC grew its stake in shares of PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after buying an additional 78 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in shares of PulteGroup by 1.0% in the second quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock worth $924,000 after acquiring an additional 85 shares during the last quarter. Apella Capital LLC increased its holdings in shares of PulteGroup by 4.2% during the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock worth $268,000 after purchasing an additional 87 shares during the period. Cooper Financial Group increased its stake in PulteGroup by 1.4% during the second quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock valued at $706,000 after acquiring an additional 92 shares during the period. Finally, CWM LLC lifted its position in PulteGroup by 0.6% in the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock worth $1,890,000 after purchasing an additional 92 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $123.04 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $122.99 and a 200-day simple moving average of $119.58. PulteGroup has a one year low of $88.07 and a one year high of $142.11. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.00 and a beta of 1.31.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.86 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $3.35 EPS. On average, analysts predict that PulteGroup will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be issued a $0.26 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 16th. PulteGroup’s dividend payout ratio is currently 8.01%.

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.