FBR & Co Reaffirms “Outperform” Rating for PulteGroup, Inc. (NYSE:PHM)
FBR & Co restated their outperform rating on shares of PulteGroup, Inc. (NYSE:PHM) in a research report sent to investors on Wednesday. FBR & Co currently has a $28.00 target price on the construction company’s stock, up from their prior target price of $26.00. FBR & Co also issued estimates for PulteGroup’s Q3 2017 earnings at $0.58 EPS and Q4 2017 earnings at $0.84 EPS.
A number of other research analysts have also commented on PHM. UBS AG lowered PulteGroup from a positive rating to a neutral rating in a report on Wednesday. Susquehanna Bancshares Inc lowered PulteGroup from a positive rating to a neutral rating and set a $26.00 price objective on the stock. in a report on Wednesday. Wedbush reaffirmed a neutral rating and issued a $22.00 price objective on shares of PulteGroup in a report on Tuesday, July 25th. BidaskClub lowered PulteGroup from a strong-buy rating to a buy rating in a report on Thursday, July 13th. Finally, Barclays PLC lowered PulteGroup from an overweight rating to an equal weight rating and set a $24.00 price objective on the stock. in a report on Tuesday, July 11th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $25.08.
PulteGroup (PHM) opened at 24.35 on Wednesday. The company has a market capitalization of $7.35 billion, a PE ratio of 13.48 and a beta of 1.15. The company has a 50-day moving average price of $24.30 and a 200 day moving average price of $22.86. PulteGroup has a 12 month low of $17.69 and a 12 month high of $25.20.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts forecast that PulteGroup will post $2.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 8th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.36 annualized dividend and a dividend yield of 1.48%. PulteGroup’s dividend payout ratio is currently 20.00%.
In related news, Director Brian P. Anderson sold 14,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the sale, the director now directly owns 108,744 shares in the company, valued at approximately $2,520,685.92. The sale was disclosed in a filing with the SEC, which is available through this link. 0.71% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Capstone Asset Management Co. increased its stake in shares of PulteGroup by 13.6% in the first quarter. Capstone Asset Management Co. now owns 43,920 shares of the construction company’s stock valued at $1,034,000 after buying an additional 5,250 shares in the last quarter. Regentatlantic Capital LLC increased its stake in shares of PulteGroup by 20.7% in the first quarter. Regentatlantic Capital LLC now owns 48,772 shares of the construction company’s stock valued at $1,149,000 after buying an additional 8,355 shares in the last quarter. Bank of Montreal Can increased its stake in shares of PulteGroup by 8.7% in the first quarter. Bank of Montreal Can now owns 292,090 shares of the construction company’s stock valued at $6,878,000 after buying an additional 23,403 shares in the last quarter. P.R. Herzig & Co. Inc. acquired a new stake in shares of PulteGroup during the first quarter valued at $1,618,000. Finally, Gulf International Bank UK Ltd increased its stake in shares of PulteGroup by 2.0% in the first quarter. Gulf International Bank UK Ltd now owns 98,405 shares of the construction company’s stock valued at $2,317,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.
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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