PulteGroup (NYSE:PHM) Price Target Increased to $156.00 by Analysts at BTIG Research

PulteGroup (NYSE:PHM) had its price target boosted by BTIG Research from $139.00 to $156.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other analysts have also recently commented on PHM. Bank of America upped their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Citigroup cut their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Evercore ISI upped their price target on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Raymond James increased their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Price Performance

PulteGroup stock opened at $133.16 on Wednesday. The business’s 50-day simple moving average is $136.67 and its 200 day simple moving average is $122.95. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 0.61 and a beta of 1.62. PulteGroup has a 12-month low of $68.80 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.90 EPS. As a group, research analysts anticipate that PulteGroup will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were given a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.60%. PulteGroup’s dividend payout ratio is currently 6.10%.

Insiders Place Their Bets

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,000 shares of company stock worth $15,814,039. Corporate insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PHM. Blair William & Co. IL boosted its holdings in shares of PulteGroup by 1.9% in the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock valued at $3,289,000 after buying an additional 516 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in PulteGroup by 6.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after buying an additional 17,369 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in PulteGroup by 4.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company’s stock worth $74,913,000 after acquiring an additional 28,774 shares in the last quarter. Lazard Asset Management LLC lifted its stake in PulteGroup by 1.1% in the first quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company’s stock valued at $55,993,000 after acquiring an additional 5,022 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in PulteGroup by 34.4% in the first quarter. Russell Investments Group Ltd. now owns 679,940 shares of the construction company’s stock valued at $81,901,000 after acquiring an additional 173,914 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

About PulteGroup

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.