PulteGroup, Inc. (NYSE:PHM) has been given a consensus rating of “Buy” by the seventeen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $33.42.
A number of equities research analysts have recently weighed in on PHM shares. Royal Bank of Canada set a $39.00 target price on PulteGroup and gave the company a “buy” rating in a research note on Wednesday, February 14th. Credit Suisse Group raised PulteGroup to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, January 31st. Mizuho raised PulteGroup from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. UBS boosted their target price on PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Zacks Investment Research raised PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 target price for the company in a research note on Thursday, January 4th.
In related news, Director Patrick J. Oleary sold 8,677 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total transaction of $260,570.31. Following the transaction, the director now owns 90,687 shares in the company, valued at approximately $2,723,330.61. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Focused Wealth Management Inc purchased a new position in PulteGroup during the 4th quarter valued at about $113,000. Invictus RG increased its holdings in PulteGroup by 1,473.4% during the 3rd quarter. Invictus RG now owns 4,264 shares of the construction company’s stock valued at $117,000 after purchasing an additional 3,993 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of PulteGroup during the 4th quarter worth approximately $119,000. National Pension Service purchased a new position in shares of PulteGroup during the 4th quarter worth approximately $138,000. Finally, Fieldpoint Private Securities LLC purchased a new position in shares of PulteGroup during the 3rd quarter worth approximately $150,000. Institutional investors own 85.34% of the company’s stock.
PulteGroup (PHM) traded down $0.15 during midday trading on Friday, hitting $29.24. The stock had a trading volume of 1,004,592 shares, compared to its average volume of 4,970,263. PulteGroup has a 12 month low of $21.41 and a 12 month high of $35.21. The company has a market cap of $8,287.43, a price-to-earnings ratio of 20.26, a PEG ratio of 0.45 and a beta of 1.12.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company posted $0.67 EPS. PulteGroup’s revenue for the quarter was up 12.1% on a year-over-year basis. research analysts expect that PulteGroup will post 3.11 EPS for the current year.
PulteGroup declared that its Board of Directors has initiated a share repurchase plan on Tuesday, January 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.23%. PulteGroup’s dividend payout ratio is presently 25.00%.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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