PulteGroup (NYSE:PHM) Price Target Lowered to $132.00 at Wells Fargo & Company

PulteGroup (NYSE:PHM) had its price target cut by Wells Fargo & Company from $150.00 to $132.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other analysts have also issued reports about the company. Zacks Research lowered PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Royal Bank Of Canada boosted their price objective on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Citizens Jmp initiated coverage on PulteGroup in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price objective on the stock. Seaport Research Partners reiterated a “sell” rating and set a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research note on Tuesday. Finally, Evercore boosted their price objective on PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.21.

PulteGroup Stock Performance

NYSE:PHM opened at $120.28 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. PulteGroup has a 52-week low of $88.07 and a 52-week high of $144.49. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.36 and a beta of 1.33. The business’s fifty day moving average is $127.70 and its 200 day moving average is $125.30.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio is 9.35%.

Insider Activity

In other news, COO Matthew William Koart sold 15,309 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the transaction, the chief operating officer directly owned 42,418 shares in the company, valued at approximately $5,759,940.22. This represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brien P. O’meara sold 4,000 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.51, for a total value of $542,040.00. Following the transaction, the vice president owned 8,601 shares in the company, valued at $1,165,521.51. This trade represents a 31.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PulteGroup

Institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in PulteGroup by 18.3% during the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after acquiring an additional 75 shares during the period. Evergreen Capital Management LLC boosted its holdings in PulteGroup by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after acquiring an additional 78 shares during the period. Stephens Inc. AR boosted its holdings in PulteGroup by 3.5% during the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after acquiring an additional 80 shares during the period. Apella Capital LLC boosted its holdings in PulteGroup by 4.2% during the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock valued at $268,000 after acquiring an additional 87 shares during the period. Finally, CWM LLC boosted its holdings in PulteGroup by 0.6% during the 3rd quarter. CWM LLC now owns 14,308 shares of the construction company’s stock valued at $1,890,000 after acquiring an additional 92 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.