Analysts Set PulteGroup, Inc. (NYSE:PHM) Price Target at $140.71

PulteGroup, Inc. (NYSE:PHM) has been assigned an average rating of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $140.7143.

A number of research analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Citigroup lifted their price objective on PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wells Fargo & Company upped their target price on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Barclays lowered their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th.

PulteGroup Stock Up 0.1%

Shares of NYSE PHM opened at $133.79 on Friday. PulteGroup has a 52 week low of $107.07 and a 52 week high of $144.49. The business has a 50-day simple moving average of $122.23 and a two-hundred day simple moving average of $124.62. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The company has a market cap of $25.49 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.70 and a beta of 1.18.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. PulteGroup’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 EPS. Research analysts anticipate that PulteGroup will post 9.95 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

Insider Buying and Selling

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by insiders.

Institutional Investors Weigh In On PulteGroup

Hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of PulteGroup by 2.4% during the fourth quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock worth $67,387,000 after acquiring an additional 13,259 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of PulteGroup by 166.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company’s stock valued at $1,964,000 after purchasing an additional 10,467 shares in the last quarter. Dorato Capital Management purchased a new stake in shares of PulteGroup in the 4th quarter valued at $2,625,000. National Pension Service grew its holdings in shares of PulteGroup by 3.8% during the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock valued at $59,503,000 after purchasing an additional 18,455 shares during the last quarter. Finally, EFG Asset Management Americas Corp. grew its holdings in shares of PulteGroup by 351.9% during the 3rd quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock valued at $6,177,000 after purchasing an additional 36,407 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.