PulteGroup (NYSE:PHM) Given New $131.00 Price Target at JPMorgan Chase & Co.

PulteGroup (NYSE:PHM) had its price target decreased by JPMorgan Chase & Co. from $149.00 to $131.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

Several other analysts have also commented on the company. Barclays set a $115.00 price target on PulteGroup in a research note on Monday, December 8th. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Zacks Research lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Citigroup lifted their price target on shares of PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Oppenheimer restated an “outperform” rating and issued a $149.00 price target (up from $140.00) on shares of PulteGroup in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.15.

PulteGroup Stock Performance

NYSE PHM opened at $130.20 on Tuesday. PulteGroup has a twelve month low of $88.07 and a twelve month high of $142.11. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $25.38 billion, a P/E ratio of 11.71, a PEG ratio of 1.39 and a beta of 1.33. The company’s 50-day simple moving average is $124.92 and its 200 day simple moving average is $125.14.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were 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 was Tuesday, December 16th. PulteGroup’s dividend payout ratio is presently 9.35%.

Institutional Trading of PulteGroup

Several hedge funds and other institutional investors have recently modified their holdings of PHM. Railway Pension Investments Ltd raised its position in PulteGroup by 2.4% during the 2nd quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after purchasing an additional 3,200 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of PulteGroup by 10.5% during the third quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after acquiring an additional 10,028 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of PulteGroup in the second quarter worth approximately $2,162,000. Osaic Holdings Inc. boosted its holdings in PulteGroup by 129.5% in the second quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock valued at $15,778,000 after acquiring an additional 85,637 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in PulteGroup during the 3rd quarter valued at approximately $2,280,000. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.