PulteGroup (NYSE:PHM) Stock Gets Price Target Reduction from Morgan Stanley

PulteGroup (NYSE:PHM) had its price objective reduced by Morgan Stanley from $128.00 to $120.00 in a research note released on Tuesday,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

A number of other equities research analysts have also issued reports on PHM. Wells Fargo & Company decreased their target price on shares of PulteGroup from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, September 11th. Melius Research began coverage on shares of PulteGroup in a research note on Tuesday, October 6th. They issued a “hold” rating and a $132.00 price target on the stock. Wolfe Research set a $129.00 price objective on PulteGroup and gave the stock an “outperform” rating in a report on Monday, August 24th. Evercore reissued an “outperform” rating on shares of PulteGroup in a research report on Friday, September 25th. Finally, Piper Sandler downgraded PulteGroup to a “hold” rating and set a $145.00 target price on the stock. in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $136.76.

PulteGroup Stock Down 0.6%

Shares of PulteGroup stock opened at $135.13 on Tuesday. PulteGroup has a 1 year low of $107.15 and a 1 year high of $144.49. The company has a market cap of $24.88 billion, a P/E ratio of 14.05, a P/E/G ratio of 2.28 and a beta of 1.17. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $119.48 and a 200 day moving average price of $124.19.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, October 22nd. The construction company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.10). The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.15 billion. PulteGroup had a return on equity of 14.29% and a net margin of 11.24%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.96 earnings per share. As a group, analysts expect that PulteGroup will post 9.37 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 15th 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 of this dividend was Tuesday, September 15th. PulteGroup’s dividend payout ratio (DPR) is presently 11.11%.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC boosted its holdings in PulteGroup by 1.1% during the second quarter. CoreCap Advisors LLC now owns 7,372 shares of the construction company’s stock worth $1,012,000 after buying an additional 79 shares during the last quarter. Oddo BHF Asset Management Sas grew its position in shares of PulteGroup by 1.1% during the 1st quarter. Oddo BHF Asset Management Sas now owns 11,516 shares of the construction company’s stock worth $1,354,000 after buying an additional 124 shares during the period. Cedar Mountain Advisors LLC increased its stake in shares of PulteGroup by 1,650.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Integrity Alliance LLC. increased its stake in shares of PulteGroup by 2.0% in the 3rd quarter. Integrity Alliance LLC. now owns 9,949 shares of the construction company’s stock valued at $1,155,000 after acquiring an additional 198 shares during the last quarter. Finally, Lynch Investment Planning LLC acquired a new stake in shares of PulteGroup in the 3rd quarter valued at approximately $26,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

About PulteGroup

PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service.

The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership.