Truist Financial Cuts PulteGroup (NYSE:PHM) Price Target to $150.00

PulteGroup (NYSE:PHM) had its target price cut by Truist Financial from $170.00 to $150.00 in a research report released on Thursday, Marketbeat.com reports. They currently have a buy rating on the construction company’s stock.

A number of other brokerages have also commented on PHM. JPMorgan Chase & Co. cut their price objective on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. UBS Group reiterated a “buy” rating on shares of PulteGroup in a report on Thursday, March 12th. The Goldman Sachs Group cut their price objective on shares of PulteGroup from $150.00 to $133.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Barclays cut their price objective on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $149.00 target price (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.79.

PulteGroup Stock Performance

Shares of PHM stock opened at $126.29 on Thursday. PulteGroup has a 12 month low of $91.76 and a 12 month high of $144.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $24.20 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.41 and a beta of 1.33. The company’s fifty day moving average price is $126.54 and its two-hundred day moving average price is $124.87.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, March 17th. PulteGroup’s dividend payout ratio is 9.35%.

Insiders Place Their Bets

In other news, insider Ryan Marshall sold 111,250 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the sale, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the sale, the chief operating officer owned 42,418 shares in the company, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 149,952 shares of company stock worth $20,162,165. Company insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors have recently modified their holdings of PHM. Norges Bank bought a new stake in shares of PulteGroup during the 4th quarter valued at about $466,653,000. Price T Rowe Associates Inc. MD grew its position in shares of PulteGroup by 126.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after buying an additional 2,392,580 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of PulteGroup during the 3rd quarter valued at about $315,883,000. AGF Management Ltd. bought a new stake in shares of PulteGroup during the 3rd quarter valued at about $174,347,000. Finally, American Century Companies Inc. grew its position in shares of PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after buying an additional 930,287 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.