Royal Bank of Canada upgraded shares of PulteGroup (NYSE:PHM) from a sector perform rating to an outperform rating in a research report report published on Friday, AnalystRatings.net reports. They currently have $53.00 price objective on the construction company’s stock, up from their previous price objective of $52.00.
Several other brokerages also recently commented on PHM. Citigroup upped their target price on shares of PulteGroup from $43.00 to $44.00 and gave the company a buy rating in a research note on Wednesday, July 22nd. Barclays increased their price objective on shares of PulteGroup from $44.00 to $47.00 and gave the stock an overweight rating in a research report on Thursday, September 17th. Wells Fargo & Company raised shares of PulteGroup from an equal weight rating to an overweight rating and increased their price objective for the stock from $40.00 to $49.00 in a research report on Monday, July 27th. Credit Suisse Group increased their price objective on shares of PulteGroup from $38.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, July 24th. Finally, ValuEngine upgraded shares of PulteGroup from a strong sell rating to a sell rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $48.27.
NYSE:PHM opened at $42.41 on Friday. The firm has a market cap of $11.37 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.37. PulteGroup has a 12 month low of $17.12 and a 12 month high of $49.70. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $45.99 and its two-hundred day moving average price is $38.23.
PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, October 22nd. The construction company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.19. PulteGroup had a net margin of 10.94% and a return on equity of 20.10%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the business earned $0.99 earnings per share. PulteGroup’s quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts expect that PulteGroup will post 4.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Monday, September 21st were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.13%. PulteGroup’s payout ratio is currently 13.75%.
In related news, CFO Robert Oshaughnessy sold 54,774 shares of PulteGroup stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.08, for a total transaction of $2,414,437.92. Following the sale, the chief financial officer now directly owns 244,743 shares in the company, valued at approximately $10,788,271.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PHM. Greenhaven Associates Inc. lifted its position in shares of PulteGroup by 57.3% in the 2nd quarter. Greenhaven Associates Inc. now owns 5,250,246 shares of the construction company’s stock worth $178,666,000 after purchasing an additional 1,911,503 shares during the period. Nordea Investment Management AB grew its stake in shares of PulteGroup by 100.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,180,604 shares of the construction company’s stock worth $72,658,000 after acquiring an additional 1,091,163 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of PulteGroup in the 2nd quarter worth $29,220,000. Polaris Greystone Financial Group LLC bought a new stake in shares of PulteGroup in the 2nd quarter worth $20,881,000. Finally, State Street Corp grew its stake in shares of PulteGroup by 4.7% in the 1st quarter. State Street Corp now owns 12,922,013 shares of the construction company’s stock worth $289,871,000 after acquiring an additional 580,162 shares in the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
PulteGroup Company Profile
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.
Further Reading: Stochastic Momentum Index (SMI)
Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.