PulteGroup, Inc. (PHM) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of PulteGroup, Inc. (NYSE:PHM) from a buy rating to a hold rating in a research report released on Tuesday.
According to Zacks, “PulteGroup will continue to benefit from its value-creation strategy as it focuses on generating solid returns, with balanced approach across its portfolio and capital allocation plans. Continued favorable trends in the economy, job growth, demographics and consumer confidence can more than offset the impact of modestly higher rates, allowing the housing recovery to continue at a steady pace. Also, shares of PulteGroup outperformed its industry so far this year. However, labor shortages and gross margin compression due to rising labor costs can keep the housing momentum in check. Even so, prudent land investments, new value creation initiatives and solid cash position bode well.”
PHM has been the topic of a number of other reports. FBR & Co restated an outperform rating and issued a $28.00 target price (up from $26.00) on shares of PulteGroup in a report on Wednesday, July 26th. MKM Partners reiterated a neutral rating on shares of PulteGroup in a report on Tuesday, September 5th. Wedbush reiterated a neutral rating and set a $22.00 price objective on shares of PulteGroup in a report on Tuesday, July 25th. Susquehanna Bancshares Inc lowered shares of PulteGroup from a positive rating to a neutral rating and set a $26.00 price objective on the stock. in a report on Wednesday, July 26th. Finally, BidaskClub lowered shares of PulteGroup from a buy rating to a hold rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. PulteGroup has an average rating of Hold and an average target price of $25.45.
PulteGroup (NYSE PHM) traded up 0.18% during midday trading on Tuesday, reaching $27.25. 1,079,037 shares of the company traded hands. The company’s 50-day moving average price is $26.03 and its 200 day moving average price is $24.36. PulteGroup has a 12 month low of $17.69 and a 12 month high of $27.76. The firm has a market capitalization of $8.22 billion, a PE ratio of 15.08 and a beta of 1.06.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. On average, equities analysts anticipate that PulteGroup will post $2.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 19th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, September 18th. PulteGroup’s dividend payout ratio (DPR) is presently 20.00%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Peloton Wealth Strategists increased its position in PulteGroup by 4.7% during the 2nd quarter. Peloton Wealth Strategists now owns 89,700 shares of the construction company’s stock worth $2,200,000 after purchasing an additional 4,000 shares in the last quarter. Hartwell J M Limited Partnership increased its position in PulteGroup by 4.3% during the 2nd quarter. Hartwell J M Limited Partnership now owns 22,850 shares of the construction company’s stock worth $561,000 after purchasing an additional 950 shares in the last quarter. Mirador Capital Partners LP increased its position in PulteGroup by 3.7% during the 2nd quarter. Mirador Capital Partners LP now owns 48,655 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 1,728 shares in the last quarter. Aviva PLC increased its position in PulteGroup by 9.5% during the 2nd quarter. Aviva PLC now owns 179,277 shares of the construction company’s stock worth $4,399,000 after purchasing an additional 15,540 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in PulteGroup during the 2nd quarter worth approximately $2,631,000. 85.71% of the stock is owned by hedge funds and other institutional investors.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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