PulteGroup, Inc. (NYSE:PHM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PulteGroup, Inc. (NYSE:PHM) have been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $140.7143.

Several equities research analysts have weighed in on the company. Bank of America dropped their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 20th. UBS Group increased their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Barclays dropped their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Wells Fargo & Company increased their price objective on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th.

Insider Activity at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the sale, the chief operating officer owned 28,100 shares in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of PulteGroup by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock valued at $1,589,495,000 after purchasing an additional 655,033 shares during the period. First Trust Advisors LP increased its holdings in shares of PulteGroup by 7.8% in the 1st quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock worth $507,428,000 after purchasing an additional 313,581 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of PulteGroup by 126.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock worth $502,366,000 after purchasing an additional 2,392,580 shares in the last quarter. Norges Bank bought a new stake in shares of PulteGroup in the 4th quarter worth $466,653,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of PulteGroup by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company’s stock worth $370,008,000 after purchasing an additional 26,790 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 0.1%

Shares of PHM stock opened at $117.80 on Wednesday. The stock has a market capitalization of $22.44 billion, a PE ratio of 11.39, a P/E/G ratio of 1.49 and a beta of 1.20. PulteGroup has a 1-year low of $96.46 and a 1-year high of $144.49. The business has a 50-day moving average of $119.03 and a 200 day moving average of $124.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the business posted $2.57 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that PulteGroup will post 10 earnings per share for the current year.

PulteGroup announced that its board has authorized a stock repurchase program on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is 10.06%.

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.