Analysts Set PulteGroup, Inc. (NYSE:PHM) Target Price at $142.20

Shares of PulteGroup, Inc. (NYSE:PHM) have received an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $140.9333.

Several research firms have issued reports on PHM. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Evercore reissued an “outperform” rating and issued a $162.00 target price on shares of PulteGroup in a research note on Thursday, July 23rd. Benchmark upgraded shares of PulteGroup to a “strong-buy” rating in a research report on Thursday, September 3rd. Truist Financial cut their price target on PulteGroup from $145.00 to $136.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Citigroup reissued a “market outperform” rating on shares of PulteGroup in a research report on Tuesday, August 18th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC raised its stake in shares of PulteGroup by 1.1% in the second quarter. CoreCap Advisors LLC now owns 7,372 shares of the construction company’s stock worth $1,012,000 after purchasing an additional 79 shares during the last quarter. Stephens Inc. AR increased its holdings in PulteGroup by 3.5% during the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after buying an additional 80 shares during the last quarter. Van Hulzen Asset Management LLC raised its holdings in PulteGroup by 1.4% in the 4th quarter. Van Hulzen Asset Management LLC now owns 7,116 shares of the construction company’s stock worth $834,000 after purchasing an additional 100 shares during the period. New Mexico Educational Retirement Board increased its position in PulteGroup by 1.1% in the fourth quarter. New Mexico Educational Retirement Board now owns 9,138 shares of the construction company’s stock worth $1,072,000 after buying an additional 100 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of PulteGroup by 3.8% in the first quarter. Apollon Wealth Management LLC now owns 3,343 shares of the construction company’s stock worth $393,000 after buying an additional 121 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 1.1%

PHM stock opened at $118.83 on Friday. The company has a fifty day moving average price of $126.54 and a 200 day moving average price of $123.75. PulteGroup has a 12 month low of $108.49 and a 12 month high of $144.49. The company has a market cap of $22.28 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78.

PulteGroup (NYSE:PHM) last released its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the company posted $3.03 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. Sell-side analysts expect that PulteGroup will post 10.07 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 15th. PulteGroup’s dividend payout ratio is 10.62%.

About PulteGroup

PulteGroup, Inc is a U.S. homebuilding company that designs, constructs and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its residential offerings include single-family homes, townhomes and communities in a variety of price ranges and styles.

The company operates through several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West Homes. Its communities are located across numerous metropolitan areas and regions in the United States, with operations spanning markets in the South, Southeast, Southwest, Midwest and West.

PulteGroup also provides mortgage lending and related title services to support home purchases through its financial-services operations.