PulteGroup Inc. (PHM) Stock Rating Reaffirmed by Deutsche Bank AG
PulteGroup Inc. (NYSE:PHM)‘s stock had its “buy” rating reaffirmed by stock analysts at Deutsche Bank AG in a note issued to investors on Thursday. They currently have a $27.00 price target on the stock.
A number of other equities analysts also recently weighed in on PHM. MKM Partners reaffirmed a “hold” rating on shares of PulteGroup in a research report on Wednesday, June 8th. Credit Suisse Group AG reaffirmed a “sell” rating on shares of PulteGroup in a research report on Tuesday, June 28th. TheStreet raised PulteGroup from a “hold” rating to a “buy” rating in a research report on Tuesday, June 28th. FBR & Co upped their price target on PulteGroup from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 22nd. Finally, JPMorgan Chase & Co. raised PulteGroup from a “neutral” rating to an “overweight” rating and set a $26.00 price target for the company in a research report on Friday, July 22nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of C$20.39.
PulteGroup (NYSE:PHM) opened at 19.57 on Thursday. The company’s 50-day moving average is $21.20 and its 200 day moving average is $19.37. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 12.88 and a beta of 1.59. PulteGroup has a 12 month low of $14.61 and a 12 month high of $22.40.
PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. PulteGroup had a return on equity of 11.24% and a net margin of 7.89%. The firm earned $1.80 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $0.28 EPS. The business’s revenue was up 40.6% on a year-over-year basis. Equities analysts forecast that PulteGroup will post $1.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, September 16th. PulteGroup’s payout ratio is 23.68%.
In other PulteGroup news, CEO Richard J. Dugas, Jr. sold 243,115 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of C$21.96, for a total transaction of C$5,338,805.40. Following the transaction, the chief executive officer now owns 1,441,759 shares in the company, valued at approximately C$31,661,027.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James L. Ossowski sold 10,000 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of C$20.00, for a total value of C$200,000.00. Following the transaction, the vice president now owns 51,880 shares in the company, valued at approximately C$1,037,600. The disclosure for this sale can be found here. Company insiders own 1.83% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in PulteGroup by 69.4% in the first quarter. IFP Advisors Inc now owns 5,507 shares of the company’s stock valued at $103,000 after buying an additional 2,257 shares during the period. Aperio Group LLC raised its stake in PulteGroup by 15.6% in the first quarter. Aperio Group LLC now owns 126,421 shares of the company’s stock valued at $2,365,000 after buying an additional 17,063 shares during the period. River Wealth Advisors LLC raised its stake in PulteGroup by 1.0% in the first quarter. River Wealth Advisors LLC now owns 93,370 shares of the company’s stock valued at $1,747,000 after buying an additional 970 shares during the period. Factory Mutual Insurance Co. raised its stake in PulteGroup by 18.6% in the first quarter. Factory Mutual Insurance Co. now owns 2,064,000 shares of the company’s stock valued at $38,617,000 after buying an additional 324,000 shares during the period. Finally, New Century Investment Management Inc. bought a new stake in PulteGroup during the first quarter valued at about $408,000. 89.07% of the stock is currently owned by institutional investors.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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