140166 upgraded shares of PulteGroup (NYSE:PHM) from a neutral rating to a positive rating in a research report sent to investors on Friday morning, AR Network reports. They currently have $54.00 price objective on the construction company’s stock, up from their prior price objective of $53.00.
Several other analysts also recently weighed in on the company. Zelman & Associates downgraded PulteGroup from a buy rating to a hold rating in a report on Tuesday, October 13th. Zacks Investment Research cut PulteGroup from a buy rating to a hold rating and set a $46.00 price target on the stock. in a research report on Monday, September 28th. Credit Suisse Group boosted their price target on PulteGroup from $38.00 to $45.00 and gave the company a neutral rating in a research report on Friday, July 24th. ValuEngine upgraded PulteGroup from a strong sell rating to a sell rating in a research report on Monday, August 3rd. Finally, Raymond James upgraded PulteGroup from a market perform rating to an outperform rating and set a $48.00 price target on the stock in a research report on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $48.27.
PulteGroup stock opened at $42.41 on Friday. PulteGroup has a fifty-two week low of $17.12 and a fifty-two week high of $49.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $11.37 billion, a P/E ratio of 10.00, a PEG ratio of 0.87 and a beta of 1.37. The stock has a 50-day simple moving average of $45.99 and a 200-day simple moving average of $38.23.
PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, October 22nd. The construction company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.19. PulteGroup had a return on equity of 20.10% and a net margin of 10.94%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the business earned $0.99 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts forecast that PulteGroup will post 4.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Monday, September 21st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.13%. The ex-dividend date was Friday, September 18th. PulteGroup’s payout ratio is 13.75%.
In related news, CFO Robert Oshaughnessy sold 54,774 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.08, for a total value of $2,414,437.92. Following the sale, the chief financial officer now owns 244,743 shares in the company, valued at approximately $10,788,271.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new stake in shares of PulteGroup in the 2nd quarter worth approximately $28,000. Sandy Spring Bank grew its holdings in shares of PulteGroup by 172.4% in the 2nd quarter. Sandy Spring Bank now owns 858 shares of the construction company’s stock worth $29,000 after acquiring an additional 543 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of PulteGroup by 77.9% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 886 shares of the construction company’s stock worth $30,000 after acquiring an additional 388 shares during the period. Vigilant Capital Management LLC purchased a new stake in PulteGroup in the 3rd quarter valued at approximately $37,000. Finally, Smithfield Trust Co. lifted its stake in PulteGroup by 122.5% in the 2nd quarter. Smithfield Trust Co. now owns 1,335 shares of the construction company’s stock valued at $46,000 after buying an additional 735 shares in the last quarter. Institutional investors and hedge funds own 85.59% of the company’s stock.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
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