PulteGroup’s (PHM) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of PulteGroup (NYSE:PHM) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $132.00 price objective on the construction company’s stock, up from their prior price objective of $125.00.

A number of other brokerages have also recently commented on PHM. Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research note on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on shares of PulteGroup from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. UBS Group cut their price target on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price objective on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Barclays lowered their price objective on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.69.

PulteGroup Stock Up 0.1%

Shares of NYSE:PHM opened at $109.42 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. PulteGroup has a 12-month low of $88.07 and a 12-month high of $149.47. The stock’s 50-day moving average price is $104.07 and its two-hundred day moving average price is $104.83. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.32 and a beta of 1.29.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the firm earned $3.10 earnings per share. On average, research analysts forecast that PulteGroup will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.80%. PulteGroup’s dividend payout ratio is currently 6.21%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. WPG Advisers LLC bought a new stake in shares of PulteGroup in the first quarter valued at $25,000. Ameriflex Group Inc. purchased a new position in shares of PulteGroup in the 4th quarter worth about $37,000. TD Waterhouse Canada Inc. lifted its stake in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after acquiring an additional 105 shares during the last quarter. American National Bank & Trust bought a new stake in shares of PulteGroup in the 1st quarter valued at about $39,000. Finally, Quarry LP bought a new position in PulteGroup during the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.