PulteGroup (PHM) Stock Rating Upgraded by JPMorgan Chase & Co.
JPMorgan Chase & Co. upgraded shares of PulteGroup (NYSE:PHM) from an underweight rating to a neutral rating in a report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has $25.50 target price on the construction company’s stock, up from their prior target price of $24.00.
Other equities analysts also recently issued research reports about the company. ValuEngine downgraded PulteGroup from a hold rating to a sell rating in a research report on Thursday, January 17th. Zacks Investment Research upgraded PulteGroup from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Credit Suisse Group set a $31.00 price objective on PulteGroup and gave the stock a buy rating in a research report on Friday, February 15th. BTIG Research downgraded PulteGroup from a neutral rating to a sell rating and set a $23.00 price objective on the stock. in a research report on Thursday, January 17th. Finally, Raymond James downgraded PulteGroup from an outperform rating to a market perform rating in a research report on Thursday, February 14th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $28.46.
Shares of NYSE:PHM traded up $0.23 during trading on Wednesday, hitting $29.15. The stock had a trading volume of 21,918 shares, compared to its average volume of 4,117,311. PulteGroup has a 12-month low of $20.64 and a 12-month high of $33.04. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 1.36 and a beta of 0.79. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.63.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were given a $0.11 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.51%. PulteGroup’s dividend payout ratio is currently 12.26%.
In other PulteGroup news, insider Ryan Marshall sold 15,000 shares of PulteGroup stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $27.81, for a total value of $417,150.00. Following the sale, the insider now owns 453,996 shares in the company, valued at $12,625,628.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of PHM. JPMorgan Chase & Co. increased its position in PulteGroup by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,771,770 shares of the construction company’s stock worth $68,657,000 after purchasing an additional 350,357 shares during the period. Bank of New York Mellon Corp grew its holdings in PulteGroup by 26.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,749,795 shares of the construction company’s stock valued at $216,733,000 after buying an additional 1,834,260 shares during the last quarter. Martingale Asset Management L P acquired a new stake in PulteGroup during the 3rd quarter valued at $693,000. American International Group Inc. grew its holdings in PulteGroup by 5.6% during the 3rd quarter. American International Group Inc. now owns 91,245 shares of the construction company’s stock valued at $2,260,000 after buying an additional 4,829 shares during the last quarter. Finally, FMR LLC grew its holdings in PulteGroup by 13.4% during the 3rd quarter. FMR LLC now owns 3,142,871 shares of the construction company’s stock valued at $77,849,000 after buying an additional 370,310 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.
PulteGroup Company Profile
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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