Raymond James Reiterates Outperform Rating for PulteGroup (NYSE:PHM)

Raymond James reiterated their outperform rating on shares of PulteGroup (NYSE:PHM) in a research report report published on Thursday, Benzinga reports. Raymond James currently has a $135.00 price objective on the construction company’s stock, up from their prior price objective of $120.00.

A number of other research analysts have also recently commented on PHM. Citigroup increased their price target on shares of PulteGroup from $116.00 to $127.00 and gave the company a neutral rating in a research report on Friday, April 5th. Royal Bank of Canada increased their price target on shares of PulteGroup from $106.00 to $113.00 and gave the company a sector perform rating in a research report on Wednesday. The Goldman Sachs Group increased their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a neutral rating in a research report on Thursday, January 11th. Jefferies Financial Group increased their price target on shares of PulteGroup from $126.00 to $131.00 and gave the company a buy rating in a research report on Wednesday. Finally, Zelman & Associates upgraded shares of PulteGroup from a neutral rating to an outperform rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $111.73.

PulteGroup Trading Up 2.2 %

Shares of PHM opened at $113.80 on Thursday. The firm’s 50 day simple moving average is $111.28 and its 200 day simple moving average is $99.59. The company has a market capitalization of $23.94 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.53 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86. PulteGroup has a 1-year low of $64.70 and a 1-year high of $121.07.

PulteGroup (NYSE:PHM) last announced its earnings results 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. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. PulteGroup’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the firm posted $3.63 earnings per share. Sell-side analysts forecast that PulteGroup will post 12.66 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has approved a share repurchase program on Tuesday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Thursday, March 14th. PulteGroup’s payout ratio is 6.41%.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is currently owned by insiders.

Institutional Trading of PulteGroup

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aspen Investment Management Inc purchased a new position in PulteGroup during the first quarter valued at $316,000. Planned Solutions Inc. lifted its position in PulteGroup by 10.9% during the first quarter. Planned Solutions Inc. now owns 3,057 shares of the construction company’s stock valued at $369,000 after buying an additional 300 shares during the period. LifeSteps Financial Inc. purchased a new position in PulteGroup during the first quarter valued at $174,000. Verdence Capital Advisors LLC lifted its position in PulteGroup by 3.4% during the first quarter. Verdence Capital Advisors LLC now owns 7,610 shares of the construction company’s stock valued at $918,000 after buying an additional 253 shares during the period. Finally, Strategy Asset Managers LLC lifted its position in PulteGroup by 3.8% during the first quarter. Strategy Asset Managers LLC now owns 6,522 shares of the construction company’s stock valued at $787,000 after buying an additional 239 shares during the period. 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.