PulteGroup (NYSE:PHM) PT Raised to $143.00

PulteGroup (NYSE:PHM) had its price target hoisted by Oppenheimer from $138.00 to $143.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

Several other analysts have also commented on PHM. StockNews.com lowered shares of PulteGroup from a buy rating to a hold rating in a report on Saturday, March 2nd. Wedbush restated a neutral rating and issued a $85.00 price objective on shares of PulteGroup in a report on Wednesday, January 31st. Raymond James raised their price objective on shares of PulteGroup from $100.00 to $120.00 and gave the stock an outperform rating in a report on Monday, February 5th. The Goldman Sachs Group raised their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the stock a neutral rating in a report on Thursday, January 11th. Finally, UBS Group lowered shares of PulteGroup from a buy rating to a neutral rating and lifted their target price for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $111.73.

PulteGroup Stock Performance

PulteGroup stock opened at $113.74 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $111.28 and a 200-day moving average of $99.42. The firm has a market cap of $23.92 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.54 and a beta of 1.56. PulteGroup has a 1-year low of $64.70 and a 1-year high of $121.07.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the business posted $3.63 earnings per share. PulteGroup’s quarterly revenue was down 15.5% compared to the same quarter last year. Sell-side analysts expect that PulteGroup will post 11.96 EPS for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by insiders.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently made changes to their positions in PHM. Norges Bank bought a new stake in shares of PulteGroup during the fourth quarter valued at approximately $381,960,000. Pacer Advisors Inc. grew its position in PulteGroup by 54.6% in the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock worth $310,043,000 after purchasing an additional 1,060,466 shares during the period. Hsbc Holdings PLC grew its position in PulteGroup by 63.6% in the 3rd quarter. Hsbc Holdings PLC now owns 1,748,119 shares of the construction company’s stock worth $129,354,000 after purchasing an additional 679,582 shares during the period. Jupiter Asset Management Ltd. bought a new stake in PulteGroup in the 3rd quarter worth approximately $47,762,000. Finally, Allianz Asset Management GmbH grew its position in PulteGroup by 38.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after purchasing an additional 523,623 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.