PulteGroup (NYSE:PHM) Price Target Raised to $149.00

by · The Markets Daily

PulteGroup (NYSE:PHM – Free Report) had its price objective upped by JPMorgan Chase & Co. from $136.00 to $149.00 in a research report sent to investors on Thursday morning,MarketScreener reports. The brokerage currently has an overweight rating on the construction company’s stock.

A number of other equities research analysts have also recently issued reports on PHM. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of PulteGroup in a research note on Monday, December 1st. Wells Fargo & Company raised their price target on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a research note on Tuesday, October 21st. Finally, Bank of America reduced their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $135.83.

Check Out Our Latest Report on PulteGroup

PulteGroup Price Performance

Shares of PulteGroup stock traded down $0.93 on Thursday, hitting $126.96. The company’s stock had a trading volume of 1,204,997 shares, compared to its average volume of 1,599,544. The company has a market capitalization of $24.75 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.31. PulteGroup has a 1 year low of $88.07 and a 1 year high of $142.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a fifty day moving average price of $123.34 and a 200-day moving average price of $119.08.

PulteGroup (NYSE:PHM – Get Free Report) last issued its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.86 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.PulteGroup’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $3.35 earnings per share. As a group, sell-side analysts anticipate that PulteGroup will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, December 16th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is currently 8.01%.

Institutional Investors Weigh In On PulteGroup

A number of large investors have recently made changes to their positions in the stock. WPG Advisers LLC purchased a new position in PulteGroup during the first quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in PulteGroup in the 2nd quarter valued at $32,000. Rexford Capital Inc. acquired a new stake in shares of PulteGroup in the 2nd quarter worth $35,000. Private Wealth Management Group LLC raised its holdings in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Finally, Hager Investment Management Services LLC boosted its position in shares of PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after acquiring an additional 105 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

(Get Free Report)

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.

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