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.
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