PulteGroup, Inc. (NYSE:PHM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PulteGroup, Inc. (NYSE:PHM) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $111.73.

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup lifted their price target on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada lifted their price target on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, UBS Group lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $93.00 to $120.00 in a research note on Thursday, January 4th.

PulteGroup Price Performance

Shares of PHM opened at $111.36 on Friday. PulteGroup has a twelve month low of $64.41 and a twelve month high of $121.07. The firm’s fifty day simple moving average is $111.04 and its 200-day simple moving average is $99.13. The firm has a market capitalization of $23.42 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 0.54 and a beta of 1.56. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the business earned $3.63 EPS. The company’s revenue was down 15.5% on a year-over-year basis. Equities analysts forecast that PulteGroup will post 11.96 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.72%. PulteGroup’s dividend payout ratio is presently 6.41%.

PulteGroup declared that its board has approved a share repurchase plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by company insiders.

Institutional Trading of PulteGroup

Hedge funds and other institutional investors have recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of PulteGroup in the first quarter valued at about $26,000. Arlington Trust Co LLC purchased a new stake in PulteGroup during the third quarter worth about $33,000. Baystate Wealth Management LLC boosted its holdings in PulteGroup by 186.5% during the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in PulteGroup during the third quarter worth about $36,000. Finally, Rakuten Securities Inc. purchased a new stake in PulteGroup during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.