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

Shares of PulteGroup, Inc. (NYSE:PHMGet Free Report) have earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $142.2143.

A number of research analysts recently weighed in on the company. Bank of America decreased their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup upped their price objective on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, Barclays increased their price objective on shares of PulteGroup from $112.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th.

Read Our Latest Research Report on PHM

PulteGroup News Roundup

Here are the key news stories impacting PulteGroup this week:

PulteGroup Trading Up 1.6%

Shares of NYSE:PHM opened at $126.27 on Thursday. PulteGroup has a 52-week low of $108.49 and a 52-week high of $144.49. The company has a market capitalization of $24.05 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.58 and a beta of 1.18. The company has a 50-day simple moving average of $123.53 and a 200 day simple moving average of $125.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94.

PulteGroup (NYSE:PHMGet Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.03 earnings per share. Sell-side analysts forecast that PulteGroup will post 9.95 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 16th. PulteGroup’s dividend payout ratio is currently 10.06%.

PulteGroup declared that its board has authorized a stock buyback plan on Thursday, April 23rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at PulteGroup

In other news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director owned 3,540 shares in the company, valued at $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PHM. Focus Partners Wealth lifted its holdings in shares of PulteGroup by 20.5% during the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after buying an additional 2,128 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of PulteGroup by 197.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after acquiring an additional 804 shares in the last quarter. Guggenheim Capital LLC increased its position in PulteGroup by 12.9% during the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after acquiring an additional 975 shares during the period. Baird Financial Group Inc. increased its position in PulteGroup by 8.0% during the second quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after acquiring an additional 2,164 shares during the period. Finally, Cerity Partners LLC raised its stake in PulteGroup by 17.6% in the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 6,240 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

(Get Free Report)

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.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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