PulteGroup, Inc. (NYSE:PHM) Receives $140.71 Consensus Target Price from Brokerages

Shares of PulteGroup, Inc. (NYSE:PHM) have been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $140.7143.

PHM has been the topic of a number of research analyst reports. Barclays decreased their price target on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Citigroup lifted their target price on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 24th. UBS Group lifted their target price on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Bank of America reduced their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 20th.

Insider Buying and Selling at PulteGroup

In related news, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total transaction of $729,548.19. Following the transaction, the executive vice president owned 14,673 shares in the company, valued at $2,069,333.19. The trade was a 26.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Institutional investors have recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its holdings in PulteGroup by 1,650.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after buying an additional 198 shares in the last quarter. NFSG Corp acquired a new position in PulteGroup in the 1st quarter worth $29,000. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup in the 4th quarter worth $31,000. HHM Wealth Advisors LLC lifted its holdings in PulteGroup by 158.5% in the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Finally, DV Equities LLC acquired a new position in PulteGroup in the 4th quarter worth $32,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 1.3%

Shares of PHM opened at $113.04 on Friday. The firm has a market cap of $21.53 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.23. The company’s fifty day moving average is $121.24 and its two-hundred day moving average is $124.40. PulteGroup has a fifty-two week low of $95.20 and a fifty-two week high of $144.49. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.57 EPS. Analysts forecast that PulteGroup will post 10 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s payout ratio is presently 10.06%.

PulteGroup declared that its board has authorized a stock buyback plan on Thursday, April 23rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.