PulteGroup (PHM) Receives Hold Rating from Deutsche Bank
Deutsche Bank reiterated their hold rating on shares of PulteGroup (NYSE:PHM) in a report issued on Monday morning, Marketbeat.com reports. They currently have a $24.00 price objective on the construction company’s stock, down from their prior price objective of $34.00.
A number of other research analysts have also recently weighed in on the company. Bank of America cut PulteGroup from a buy rating to a neutral rating and set a $28.00 price objective on the stock. in a research report on Thursday, October 18th. Zacks Investment Research cut PulteGroup from a hold rating to a sell rating in a research report on Tuesday, October 16th. Citigroup lowered their price objective on PulteGroup from $32.00 to $26.00 and set a hold rating on the stock in a research report on Wednesday, October 10th. ValuEngine cut PulteGroup from a sell rating to a strong sell rating in a research report on Thursday, September 27th. Finally, JPMorgan Chase & Co. cut PulteGroup from an overweight rating to an underweight rating and lowered their price objective for the company from $37.50 to $28.00 in a research report on Friday, September 21st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $32.60.
PulteGroup stock opened at $20.88 on Monday. PulteGroup has a 52-week low of $20.88 and a 52-week high of $35.21. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.66. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.33 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, September 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.72%. PulteGroup’s dividend payout ratio is presently 16.44%.
In related news, Director Brian P. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $28.96, for a total value of $144,800.00. Following the transaction, the director now directly owns 101,235 shares of the company’s stock, valued at approximately $2,931,765.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can lifted its holdings in PulteGroup by 0.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 722,907 shares of the construction company’s stock worth $20,825,000 after purchasing an additional 2,030 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in PulteGroup by 54.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 6,187 shares of the construction company’s stock worth $178,000 after purchasing an additional 2,193 shares in the last quarter. Reliance Trust Co. of Delaware lifted its holdings in PulteGroup by 26.2% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 10,777 shares of the construction company’s stock worth $310,000 after purchasing an additional 2,240 shares in the last quarter. Alpha Windward LLC lifted its holdings in PulteGroup by 13.6% in the 3rd quarter. Alpha Windward LLC now owns 19,080 shares of the construction company’s stock worth $473,000 after purchasing an additional 2,280 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its holdings in PulteGroup by 6.8% in the 2nd quarter. Centaurus Financial Inc. now owns 36,329 shares of the construction company’s stock worth $1,044,000 after purchasing an additional 2,319 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of 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 names.
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