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

by · The Markets Daily

PulteGroup (NYSE:PHM – Free Report) had its price objective lifted by UBS Group from $148.00 to $154.00 in a research report report published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the construction company’s stock.

Several other equities research analysts have also issued reports on the stock. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Wells Fargo & Company increased their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada boosted their price objective on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Barclays upped their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Check Out Our Latest Stock Report on PHM

PulteGroup Price Performance

PHM stock opened at $133.16 on Wednesday. The company has a market cap of $27.63 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.61 and a beta of 1.62. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $136.67 and a two-hundred day moving average price of $122.95. PulteGroup has a 12-month low of $68.80 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. 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 previous year, the business earned $2.90 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts predict that PulteGroup will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is currently 6.10%.

Insider Buying and Selling

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the 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 transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now 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 legal filing with the SEC, which can be accessed 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 value 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 approximately $12,043,420.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,000 shares of company stock worth $15,814,039. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

A number of hedge funds and other institutional investors have recently modified their holdings of PHM. Greenhaven Associates Inc. increased its stake in PulteGroup by 0.3% during the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after buying an additional 16,871 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after acquiring an additional 250,937 shares during the period. Captrust Financial Advisors raised its holdings in PulteGroup by 18.4% during the first quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after purchasing an additional 168,746 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in PulteGroup by 5.9% in the second quarter. Victory Capital Management Inc. now owns 964,422 shares of the construction company’s stock worth $106,183,000 after purchasing an additional 53,924 shares during the period. 89.90% of the stock is currently owned by 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.

Featured Articles