BTIG Research upgraded shares of PulteGroup (NYSE:PHM) from a sell rating to a neutral rating in a research report sent to investors on Wednesday morning, 24/7 WallStreet reports. The firm currently has $31.35 price objective on the construction company’s stock.

Several other equities analysts have also recently issued reports on the stock. Barclays set a $28.00 target price on shares of PulteGroup and gave the company a hold rating in a research note on Thursday, March 28th. Royal Bank of Canada cut shares of PulteGroup from a sector perform rating to an underperform rating and set a $25.00 target price on the stock. in a research note on Friday, January 11th. They noted that the move was a valuation call. Buckingham Research assumed coverage on shares of PulteGroup in a research note on Friday, January 11th. They issued a neutral rating and a $30.00 price objective on the stock. They noted that the move was a valuation call. Zacks Investment Research cut shares of PulteGroup from a hold rating to a sell rating in a research note on Monday, December 31st. Finally, Raymond James cut shares of PulteGroup from an outperform rating to a market perform rating in a research note on Thursday, February 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $29.35.

PHM traded down $0.41 during midday trading on Wednesday, hitting $31.45. 121,467 shares of the company traded hands, compared to its average volume of 3,470,378. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 0.72. The stock has a market capitalization of $8.70 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.49 and a beta of 0.79. PulteGroup has a 52 week low of $20.64 and a 52 week high of $33.04.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, April 23rd. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.12. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.93 billion. PulteGroup had a net margin of 9.97% and a return on equity of 21.65%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. Research analysts forecast that PulteGroup will post 3.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is currently 12.26%.

In other PulteGroup news, insider Ryan Marshall sold 15,000 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $27.81, for a total transaction of $417,150.00. Following the completion of the sale, the insider now directly owns 453,996 shares of the company’s stock, valued at approximately $12,625,628.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.49% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Burt Wealth Advisors purchased a new position in shares of PulteGroup in the fourth quarter valued at $26,000. CSat Investment Advisory L.P. grew its holdings in shares of PulteGroup by 34.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,469 shares of the construction company’s stock valued at $38,000 after purchasing an additional 374 shares in the last quarter. Kwmg LLC purchased a new position in shares of PulteGroup in the first quarter valued at $45,000. Lavaca Capital LLC purchased a new position in shares of PulteGroup in the first quarter valued at $66,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of PulteGroup in the fourth quarter valued at $71,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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