Citigroup Inc. Boosts PulteGroup, Inc. (NYSE:PHM) Price Target to $26.00
PulteGroup, Inc. (NYSE:PHM) had its price target raised by Citigroup Inc. from $23.00 to $26.00 in a research report sent to investors on Wednesday. Citigroup Inc. currently has a neutral rating on the construction company’s stock.
Several other research firms have also weighed in on PHM. UBS AG lowered PulteGroup from a positive rating to a neutral rating in a research report on Wednesday. Wedbush restated an underperform rating and set a $15.00 price target on shares of PulteGroup in a research report on Tuesday, May 9th. Zacks Investment Research lowered PulteGroup from a hold rating to a sell rating in a research report on Tuesday, June 27th. Susquehanna Bancshares Inc lowered PulteGroup from a positive rating to a neutral rating and set a $26.00 price target on the stock. in a research report on Wednesday. Finally, Credit Suisse Group started coverage on PulteGroup in a research report on Thursday, June 22nd. They set an outperform rating and a $27.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $25.08.
Shares of PulteGroup (NYSE PHM) traded down 0.04% during trading on Wednesday, hitting $24.35. The company had a trading volume of 3,788,604 shares. The company’s 50 day moving average is $24.30 and its 200 day moving average is $22.86. The firm has a market capitalization of $7.35 billion, a P/E ratio of 13.48 and a beta of 1.15. PulteGroup has a 1-year low of $17.69 and a 1-year high of $25.20.
PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $0.37 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Analysts anticipate that PulteGroup will post $2.08 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.48%. The ex-dividend date was Tuesday, June 6th. PulteGroup’s dividend payout ratio (DPR) is 20.00%.
In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total value of $324,520.00. Following the sale, the director now directly owns 108,744 shares of the company’s stock, valued at $2,520,685.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PHM. Thrivent Financial for Lutherans increased its stake in PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock valued at $187,000 after buying an additional 110 shares during the period. Quadrature Capital Ltd bought a new stake in PulteGroup during the fourth quarter valued at approximately $587,000. RMB Capital Management LLC bought a new stake in PulteGroup during the fourth quarter valued at approximately $349,000. Teachers Advisors LLC increased its stake in PulteGroup by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 2,207,971 shares of the construction company’s stock valued at $40,583,000 after buying an additional 283,598 shares during the period. Finally, Kentucky Retirement Systems bought a new stake in PulteGroup during the fourth quarter valued at approximately $397,000. 87.85% of the stock is currently owned by institutional investors and hedge funds.
PulteGroup Company Profile
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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