PulteGroup (NYSE:PHM) Upgraded by Evercore to “Outperform” Rating

Evercore upgraded shares of PulteGroup (NYSE:PHM) from an in-line rating to an outperform rating in a research note published on Monday, MarketBeat reports. They currently have $146.00 price target on the construction company’s stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial began coverage on shares of PulteGroup in a report on Wednesday, March 4th. They issued a “buy” rating and a $170.00 price objective for the company. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Wall Street Zen raised shares of PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Citizens Jmp initiated coverage on shares of PulteGroup in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price objective for the company. Finally, Royal Bank Of Canada boosted their target price on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $140.21.

PulteGroup Stock Up 1.2%

PHM opened at $121.77 on Monday. PulteGroup has a fifty-two week low of $91.76 and a fifty-two week high of $144.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average of $127.41 and a two-hundred day moving average of $125.09. The stock has a market capitalization of $23.33 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.40 and a beta of 1.33.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 17th. PulteGroup’s dividend payout ratio is currently 9.35%.

Insider Activity at PulteGroup

In related news, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares of the company’s stock, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Marshall sold 111,250 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the sale, the insider directly owned 659,392 shares of the company’s stock, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,952 shares of company stock worth $20,162,165 in the last 90 days. 0.75% of the stock is owned by insiders.

Institutional Trading of PulteGroup

Several large investors have recently bought and sold shares of PHM. Rachor Investment Advisory Services LLC purchased a new stake in PulteGroup during the 4th quarter valued at about $31,000. DV Equities LLC acquired a new position in PulteGroup in the 4th quarter valued at about $32,000. Lloyd Advisory Services LLC. purchased a new stake in shares of PulteGroup in the 4th quarter valued at approximately $33,000. Rexford Capital Inc. purchased a new stake in shares of PulteGroup in the 2nd quarter valued at approximately $35,000. Finally, Private Wealth Management Group LLC grew its stake 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 valued at $36,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors 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.