UBS Group Raises PulteGroup (NYSE:PHM) Price Target to $154.00

PulteGroup (NYSE:PHM) had its price objective increased by UBS Group from $148.00 to $154.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other brokerages also recently commented on PHM. Royal Bank of Canada boosted their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Oppenheimer lowered their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday. Bank of America raised their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BTIG Research boosted their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Stock Performance

NYSE:PHM opened at $132.47 on Wednesday. The company has a market cap of $27.86 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.55 and a beta of 1.62. PulteGroup has a fifty-two week low of $71.20 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.73. The stock has a fifty day moving average price of $137.14 and a 200-day moving average price of $123.16.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the prior year, the business posted $2.90 earnings per share. PulteGroup’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that PulteGroup will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.60%. PulteGroup’s payout ratio is 6.41%.

Insider Activity

In related news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The shares were 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 owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 completion of the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction on 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 directly owns 89,323 shares in the company, 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 three months, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC raised its stake in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares during the period. WR Wealth Planners LLC raised its position in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the period. LRI Investments LLC bought a new position in shares of PulteGroup in the 1st quarter worth $28,000. Rothschild Investment LLC bought a new stake in PulteGroup during the 2nd quarter valued at $31,000. Finally, Candriam S.C.A. acquired a new position in PulteGroup during the second quarter worth $33,000. 89.90% of the stock is 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.