PulteGroup’s (PHM) Outperform Rating Reiterated at Raymond James Financial

Raymond James Financial restated their outperform rating on shares of PulteGroup (NYSE:PHM) in a research report report published on Wednesday,Benzinga reports. Raymond James Financial currently has a $140.00 price objective on the construction company’s stock, up from their prior price objective of $115.00.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of PulteGroup from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer increased their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Tuesday, April 22nd. Finally, Barclays dropped their target price on PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $134.15.

PulteGroup Trading Up 0.4%

PulteGroup stock opened at $116.45 on Wednesday. The business has a 50 day moving average price of $105.38 and a two-hundred day moving average price of $105.09. The company has a quick ratio of 0.80, a current ratio of 0.77 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 has a market cap of $22.98 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.34 and a beta of 1.29.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%. PulteGroup’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.83 earnings per share. As a group, equities analysts forecast that PulteGroup will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The company also recently disclosed 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. This represents a $0.88 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, June 17th. PulteGroup’s payout ratio is 6.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Norges Bank acquired a new stake in shares of PulteGroup during the fourth quarter worth about $427,562,000. Nuveen LLC bought a new stake in PulteGroup during the 1st quarter worth approximately $213,092,000. Pacer Advisors Inc. raised its holdings in PulteGroup by 2,586.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company’s stock worth $119,958,000 after buying an additional 1,123,471 shares during the period. JPMorgan Chase & Co. lifted its stake in PulteGroup by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after buying an additional 1,001,290 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in PulteGroup by 219.2% in the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company’s stock valued at $106,820,000 after buying an additional 713,534 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

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.