PulteGroup, Inc. (NYSE:PHM) Receives Consensus ‘Moderate Buy’ Recommendation From Analysts

PulteGroup, Inc. (NYSE:PHM – Get Rating) has been assigned a consensus rating of “moderate buy” by the thirteen research firms that currently cover the stock, reports Marketbeat Ratings. Five investment analysts rated the stock with a hold recommendation, seven gave the company a buy recommendation and one gave the company a strong buy recommendation. The 1-year average target price among brokers who updated their coverage on the stock in the past year is $51.21.

Several equity research analysts have recently weighed in on PHM shares. BTIG Research cut its price target on PulteGroup from $57.00 to $52.00 and set an “outperform” rating for the company in a Wednesday, July 27 report. Wells Fargo & Company raised its price target on PulteGroup to $46.00 and gave the stock an “outperform” rating in a Wednesday, July 27 report. UBS Group lowered its price target on PulteGroup from $73.00 to $55.00 and set a “buy” rating for the company in a Thursday, June 16 report. Bank of America downgraded PulteGroup from a “buy” rating to a “neutral” rating and raised its price target for the stock from $41.00 to $48.00 in a Wednesday, July 27 report. Finally, Royal Bank of Canada downgraded PulteGroup from an “outperform” rating to an “sector performer” rating and lowered its price target for the stock from $56.00 to $41.00 in a report for Wednesday, June 22.

Institutional investors weigh in on PulteGroup

A number of institutional investors have recently changed their positions in the company. Private Trust Co. NA purchased a new equity stake in PulteGroup in Q2 valued at approximately $29,000. Royal London Asset Management Ltd. increased its holdings of PulteGroup shares by 3.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 98,017 shares of the construction company valued at $3,886,000 after acquiring 2,873 additional shares in the last quarter. Amundi strengthened its position in PulteGroup by 21.0% in the 2nd quarter. Amundi now owns 696,322 shares of the construction company valued at $30,498,000 after purchasing an additional 121,063 shares during the period. Intersect Capital LLC increased its position in PulteGroup by 42.1% during the 2nd quarter. Intersect Capital LLC now owns 13,198 shares of the construction company valued at $523,000 after purchasing an additional 3,909 shares during the period. Finally, M&G Investment Management Ltd. strengthened its position in PulteGroup by 6.3% during the 2nd quarter. M&G Investment Management Ltd. now owns 22,163 shares of the construction company valued at $887,000 after purchasing an additional 1,310 shares during the period. 89.34% of the shares are currently held by institutional investors.

PulteGroup shares down 1.2%

PHM stock opened at $39.34 on Thursday. The company’s 50-day moving average price is $42.38 and its 200-day moving average price is $42.78. The company has a debt ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.47. PulteGroup has a fifty-two week low of $35.03 and a fifty-two week high of $58.09. The company has a market capitalization of $9.11 billion, a price/earnings ratio of 4.38, a PEG ratio of 2.09 and a beta of 1.33.

PulteGroup (NYSE:PHM – Get Rating) last released quarterly earnings data on Tuesday, July 26. The construction company reported earnings per share of $2.73 for the quarter, beating the consensus estimate of $2.58 by $0.15. The company posted revenue of $3.93 billion in the quarter, versus a consensus estimate of $4.07 billion. PulteGroup had a return on equity of 29.81% and a net margin of 15.02%. The company’s revenue increased by 16.9% compared to the same quarter last year. In the same period a year earlier, the company had earned earnings per share of $1.72. On average, equity research analysts expect PulteGroup to post an EPS of 11.26 for the current fiscal year.

PulteGroup announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4. Investors of record on Thursday, September 22 will receive a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 21. This represents an annualized dividend of $0.60 and a dividend yield of 1.53%. PulteGroup’s current payout ratio is 6.67%.

About Pulte Group

(Get a rating)

PulteGroup, Inc, through its subsidiaries, is primarily engaged in the residential construction business in the United States. It acquires and develops land primarily for residential purposes; and build housing on that land. The company also offers various home designs, including single-detached homes, townhouses, condominiums and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods brands.

Further reading

Analyst recommendations for PulteGroup (NYSE: PHM)

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