PulteGroup (NYSE:PHM) Price Target Raised to $151.00 at Oppenheimer

PulteGroup (NYSE:PHM) had its target price boosted by Oppenheimer from $143.00 to $151.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

PHM has been the subject of a number of other research reports. BTIG Research raised their price target on shares of PulteGroup from $133.00 to $139.00 and gave the stock a buy rating in a report on Wednesday. Bank of America raised their price target on shares of PulteGroup from $135.00 to $138.00 and gave the stock a buy rating in a report on Monday, July 22nd. Raymond James restated an outperform rating and set a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Zelman & Associates raised shares of PulteGroup from a neutral rating to an outperform rating in a research report on Wednesday, April 24th. Finally, StockNews.com raised shares of PulteGroup from a hold rating to a buy rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, PulteGroup currently has an average rating of Moderate Buy and a consensus price target of $133.14.

PulteGroup Stock Up 4.0 %

PHM stock opened at $129.99 on Wednesday. The company has a market cap of $26.98 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.54 and a beta of 1.61. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. PulteGroup has a 12 month low of $68.80 and a 12 month high of $130.93. The firm has a 50-day moving average of $114.31 and a two-hundred day moving average of $111.56.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. PulteGroup’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. As a group, analysts forecast that PulteGroup will post 12.81 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.62%. PulteGroup’s payout ratio is 6.41%.

Institutional Investors Weigh In On PulteGroup

Hedge funds and other institutional investors have recently modified their holdings of the company. Blair William & Co. IL raised its holdings in shares of PulteGroup by 1.9% in the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock valued at $3,289,000 after purchasing an additional 516 shares in the last quarter. Certuity LLC acquired a new stake in PulteGroup during the 4th quarter worth $245,000. Banque Cantonale Vaudoise raised its stake in PulteGroup by 166.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after acquiring an additional 8,215 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in PulteGroup by 6.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after acquiring an additional 17,369 shares in the last quarter. Finally, Personal CFO Solutions LLC acquired a new stake in PulteGroup during the 4th quarter worth $719,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Company Profile

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.