PulteGroup (NYSE:PHM) PT Raised to $138.00

PulteGroup (NYSE:PHM) had its price target lifted by Bank of America from $135.00 to $138.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research analysts also recently issued reports on the stock. Barclays decreased their target price on shares of PulteGroup from $136.00 to $131.00 and set an overweight rating for the company in a research report on Friday, July 12th. Oppenheimer boosted their price objective on PulteGroup from $138.00 to $143.00 and gave the company an outperform rating in a report on Wednesday, April 24th. Citigroup dropped their target price on PulteGroup from $129.00 to $117.00 and set a neutral rating on the stock in a report on Tuesday, July 2nd. Evercore ISI boosted their price target on PulteGroup from $183.00 to $189.00 and gave the company an outperform rating in a report on Monday, July 15th. Finally, Zelman & Associates upgraded PulteGroup from a neutral rating to an outperform rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $126.93.

PulteGroup Stock Down 2.5 %

Shares of PHM stock opened at $122.56 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. PulteGroup has a fifty-two week low of $68.80 and a fifty-two week high of $129.85. The firm has a market capitalization of $25.78 billion, a PE ratio of 9.81, a P/E/G ratio of 0.56 and a beta of 1.61. The stock’s 50-day simple moving average is $113.97 and its 200-day simple moving average is $111.22.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the company earned $3.00 EPS. PulteGroup’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts expect that PulteGroup will post 12.64 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, June 18th. PulteGroup’s payout ratio is presently 6.41%.

Hedge Funds Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Colton Groome Financial Advisors LLC acquired a new position in shares of PulteGroup during the 2nd quarter worth about $438,000. Lebenthal Global Advisors LLC raised its holdings in shares of PulteGroup by 3.9% during the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after acquiring an additional 87 shares during the last quarter. Everhart Financial Group Inc. raised its holdings in shares of PulteGroup by 18.8% during the second quarter. Everhart Financial Group Inc. now owns 4,963 shares of the construction company’s stock valued at $546,000 after acquiring an additional 786 shares during the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of PulteGroup by 27.9% in the second quarter. Premier Path Wealth Partners LLC now owns 2,217 shares of the construction company’s stock valued at $244,000 after acquiring an additional 484 shares in the last quarter. Finally, &PARTNERS acquired a new stake in shares of PulteGroup in the second quarter worth approximately $526,000. 89.90% 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. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.