PulteGroup Inc. (PHM) Receives New Coverage from Analysts at Wells Fargo & Co.
A number of other research firms have also issued reports on PHM. Zacks Investment Research raised shares of PulteGroup from a hold rating to a buy rating and set a $24.00 price target for the company in a research report on Monday, July 25th. Deutsche Bank AG raised shares of PulteGroup from a hold rating to a buy rating and set a $27.00 price objective on the stock in a research report on Monday, July 25th. RBC Capital Markets reaffirmed an outperform rating and set a $26.00 price objective (up previously from $23.00) on shares of PulteGroup in a research report on Sunday, July 24th. FBR & Co raised their price objective on shares of PulteGroup from $20.00 to $24.00 and gave the company a market perform rating in a research report on Friday, July 22nd. Finally, Royal Bank Of Canada raised their price objective on shares of PulteGroup from $23.00 to $26.00 and gave the company an outperform rating in a research report on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of C$20.13.
PulteGroup (NYSE:PHM) opened at 20.14 on Wednesday. PulteGroup has a 1-year low of $14.61 and a 1-year high of $22.40. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 13.26 and a beta of 1.59. The firm has a 50-day moving average of $20.68 and a 200-day moving average of $19.51.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business earned $1.80 billion during the quarter, compared to analyst estimates of $1.66 billion. PulteGroup had a net margin of 7.89% and a return on equity of 11.24%. The firm’s revenue was up 40.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, analysts expect that PulteGroup will post $1.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, September 16th. PulteGroup’s dividend payout ratio (DPR) is currently 23.68%.
In other news, EVP Steven M. Cook sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of C$22.06, for a total transaction of C$441,200.00. Following the sale, the executive vice president now owns 261,626 shares in the company, valued at approximately C$5,771,469.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James L. Ossowski sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of C$20.00, for a total value of C$200,000.00. Following the sale, the vice president now owns 51,880 shares in the company, valued at approximately C$1,037,600. The disclosure for this sale can be found here. Company insiders own 1.83% of the company’s stock.
Several large investors have recently made changes to their positions in PHM. Vanguard Group Inc. boosted its stake in shares of PulteGroup by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,400,716 shares of the company’s stock worth $534,039,000 after buying an additional 472,789 shares in the last quarter. Boston Partners boosted its stake in shares of PulteGroup by 53.9% in the second quarter. Boston Partners now owns 25,047,967 shares of the company’s stock worth $488,185,000 after buying an additional 8,773,436 shares in the last quarter. Credit Suisse AG boosted its stake in shares of PulteGroup by 925.7% in the second quarter. Credit Suisse AG now owns 12,969,345 shares of the company’s stock worth $252,772,000 after buying an additional 11,704,936 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PulteGroup by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,166,771 shares of the company’s stock worth $198,134,000 after buying an additional 2,132,979 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of PulteGroup by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,667,707 shares of the company’s stock worth $180,883,000 after buying an additional 36,785 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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