PulteGroup (NYSE:PHM) Price Target Lowered to $132.00 at Wells Fargo & Company

PulteGroup (NYSE:PHM) had its target price trimmed by Wells Fargo & Company from $150.00 to $132.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

PHM has been the subject of a number of other research reports. UBS Group reduced their price objective on PulteGroup from $160.00 to $159.00 and set a “buy” rating for the company in a research note on Tuesday. Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a research report on Tuesday, October 21st. Barclays set a $115.00 price objective on PulteGroup in a research report on Monday, December 8th. JPMorgan Chase & Co. raised their price objective on shares of PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Finally, Evercore ISI decreased 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

PulteGroup Stock Performance

PHM opened at $121.11 on Tuesday. The firm has a 50 day moving average of $121.27 and a two-hundred day moving average of $122.49. The firm has a market capitalization of $23.61 billion, a PE ratio of 9.32, a P/E/G ratio of 0.97 and a beta of 1.33. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup has a 12-month low of $88.07 and a 12-month high of $142.11.

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, topping analysts’ consensus estimates of $2.86 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.35 earnings per share. On average, analysts anticipate that PulteGroup will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, December 16th. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is presently 8.01%.

Institutional Trading of PulteGroup

Institutional investors have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of PulteGroup during the 2nd quarter worth about $32,000. Rexford Capital Inc. purchased a new position in shares of PulteGroup in the second quarter valued at approximately $35,000. Private Wealth Management Group LLC boosted its stake in shares of PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. Hager Investment Management Services LLC increased its position in shares of PulteGroup by 33.3% during the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after purchasing an additional 105 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in PulteGroup by 229.6% in the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after purchasing an additional 248 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.