PulteGroup (NYSE:PHM) Downgraded to Strong Sell Rating by Seaport Res Ptn

Seaport Res Ptn cut shares of PulteGroup (NYSE:PHM) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also issued reports on PHM. BTIG Research increased their price target on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Finally, Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

PulteGroup Trading Down 2.5 %

NYSE:PHM opened at $115.05 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $23.59 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.46 and a beta of 1.67. The firm’s fifty day moving average is $118.80 and its 200-day moving average is $127.59. PulteGroup has a 52 week low of $100.24 and a 52 week high of $149.47.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.76%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is presently 6.49%.

Institutional Investors Weigh In On PulteGroup

Several hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its position in PulteGroup by 23.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 18,364 shares of the construction company’s stock worth $2,022,000 after buying an additional 3,446 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of PulteGroup by 61.3% in the second quarter. Public Sector Pension Investment Board now owns 7,817 shares of the construction company’s stock worth $861,000 after purchasing an additional 2,970 shares during the last quarter. Ascent Group LLC increased its stake in shares of PulteGroup by 34.2% during the second quarter. Ascent Group LLC now owns 4,188 shares of the construction company’s stock valued at $461,000 after buying an additional 1,068 shares during the period. Algert Global LLC purchased a new position in PulteGroup during the 2nd quarter valued at $334,000. Finally, NewEdge Advisors LLC increased its position in shares of PulteGroup by 14.4% during the second quarter. NewEdge Advisors LLC now owns 33,622 shares of the construction company’s stock valued at $3,702,000 after buying an additional 4,229 shares during the period. 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.