PulteGroup (NYSE:PHM) Price Target Lowered to $140.00 at Bank of America

PulteGroup (NYSE:PHM) had its price target trimmed by Bank of America from $145.00 to $140.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

PHM has been the topic of a number of other research reports. UBS Group reaffirmed a “buy” rating on shares of PulteGroup in a research report on Thursday, March 12th. JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a research report on Wednesday, February 4th. Barclays decreased their target price on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $149.00 target price (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $138.79.

PulteGroup Trading Up 0.6%

NYSE PHM opened at $127.30 on Monday. The firm’s 50-day moving average is $126.44 and its two-hundred day moving average is $124.75. PulteGroup has a 12 month low of $91.76 and a 12 month high of $144.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $24.39 billion, a P/E ratio of 11.45, a PEG ratio of 1.48 and a beta of 1.33.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, March 17th. PulteGroup’s dividend payout ratio is currently 9.35%.

Insider Buying and Selling at PulteGroup

In other news, EVP Todd N. Sheldon sold 14,220 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the sale, the executive vice president owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. This represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the sale, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This represents a 26.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 149,952 shares of company stock valued at $20,162,165. Corporate insiders own 0.75% of the company’s stock.

Institutional Trading of PulteGroup

Several hedge funds have recently made changes to their positions in PHM. Rachor Investment Advisory Services LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $31,000. HHM Wealth Advisors LLC increased its stake in shares of PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after buying an additional 168 shares during the period. DV Equities LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $32,000. Lloyd Advisory Services LLC. purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $33,000. Finally, Private Wealth Management Group LLC increased its stake in shares of PulteGroup by 281.7% during the third 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 period. 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.